In general I think they are painting a very rosy picture and paper numbers that don't seem aligned with reality.

You might want to see if your seller would want to carry paper on the two, or just one, whatever the need is, for a decent amount of time, to let you build a little equity in the deal & later on refi conventionally to cash him out.

Also worried that the capital gains on paper would fall on her and not me.Edward, did you complete this deal?

I would need to find the piece of paper he wrote down, but  a few are1.

hi takeshia from " elvis country"....lol. wholesaling is a good part of the flipping houses and RE world. however, each state has its laws regarding wholesaling. i would tend to believe a real estate attorney from the area on his or her opinion. i wouldn't say something is illegal if you can get a license to do it, its just illegal to not have the license. then we get into the gray area of exactly what wholesaling is. if you find a seller, and put them in touch with a buyer for their house, you are acting as an agent. without a license, that is illegal. but, if you find a seller, YOU get the house under contract to buy, and put in the contract your right to reassign the contract, that is wholesaling and might NOT be illegal. in that case, you are not acting as an agent because you are not bringing two parties together. you are actually contracting to buy an item, but then exercising your right to sell that contract which does have monetary value. just like a corporation creates a stock certificate and sells it on the stock market, it is just a piece of paper with monetary value that you are selling. please check with at least one other real estate lawyer and explain the process completely. show them how you would not be acting as an agent between buyer and seller but as an actual purchaser looking to sell the asset you have created. that may make the difference. 

You can probably cash flow better there on paper than most areas, but it might require more effort on your end.

I mean I started selling real estate it was a one page contract with  GASP  Carbon paper  I am sure there are many on this site that do not even know what Carbon paper is or was used for... :)

I currently have some paper investments so I am already apart of the investing world, but now I want to add on more to my portfolio. 

I was thinking of making rent all inclusive with rent, utilities, cable, internet, cleaning services and household common area shopping( toilet paper, soap etc).

@Jonathan Towell and @James Wise gave great advice.