As a general rule, I would recommend having at the very least enough reserve money on hand to cover 6 to 12 months worth of mortgage payments.

thing is the wholesaler want 50k for assigning a contract (i know right) but even after that there's 100K plus in equity... we also have the option for buying out the assignee to hand over contract... any suggestion.

Hey Andrew...What you have on your hands is a very good question, to work with a partner or not.But the bigger question is......

Hello Hank,Let me extend my hand to you sir, and say thatwe're glad you've joined our forum.

You can do your 1031 (talk to your CPA) and pick up a property but not the hands-on work.

It's hands down one of the best I've found for REI, in terms of information available and helpfullness of members.

On the other hand, tiling the complete floor first allows for cabinet re-placement later on.

Dan, I AM A QUALIFIED INTERMEDIARY with 22 years in the business, 60,000 1031 exchanges under my belt and I'm one of the handful of founders of the industry trade group - the Federation of Exchange Accommodators.

Start working and stick with it, and there will be experienced investors on the way who will see your diligence and will lend a helping hand with your journey.

When I buy it will it hurt my credit to buy another property right off hand?