RE Schools are teaching it, i.e, against wholesaling: 2015 FL RE Statute and Constitution 475"@HORACE PINKARD, time for some more reading, then please, tell US the answer: yes, or no? 

Aaron Yates, that's expensive money but I'm not surprised that costs add up on a relatively small loan to the point that they constitute a large percentage of the overall loan amount.I know a local hard money lender.

Also, as Mike mentioned, having $5000 in damage beyond the security deposit is very rare and would constitute police action at that point.

I also agree you should speak to the local housing office and determine what your rights are...ie what constitutes habitability in your area. 

If the LLC or Limited Partnership route is taken, then this would constitute a securities offering, and the determination would have to be made if (1) this is an intrastate offering exempt from Federal Securities Regulations but subject to state securities laws or (2) this is an interstate offering, subject to Federal Securities Laws.  

If it's executed once, does that constitute a business model? 

Accordingly, you will net $72,500 from the sale of the property ($80,000 gain minus $7,500 depreciation recapture tax).Check out this article I wrote on IRC Sec. 121 Capital Gains ExclusionAnd check out this article on Depreciation Recapture This response neither constitutes legal advice nor establishes an attorney-client relationship.

The US is very much a federal system in the sense that each state makes the rules, unless there is a federal rule that (allowed by the [federal] constitution) trumps the state rule(s).

[Moderator: Edited post to remove most portion constituting deal making].

Also, for what its worth, here in New Jersey, a 1975 State Supreme Court sub-committee ruling stated in part that for a CPA to help form or dissolve a corporation could constitute practicing law without a license.