For that partnership, you essentially do most of the work and your partners provide most of the capital.

I am sure the numbers would work to rent it out, but being so far away, I would rather just get rid of it and be done with it That was something else that I was contemplating though Essentially renting it out for a few years, taking care of the work that needs to be done and then selling it in a more realistic time frame.

These methods interest me the most because it seems to be the cheapest way to get over the learning curve and meet some essential business contacts to complete my end goal.

Yes and no.If you are simply assigning your contract (essentially selling your contract) then no you do not need funds except for the earnest money deposit.

If you're Downtown, close "up & coming" NHs could be areas like Corktown or New Center or even University District.

Essentially the flood program has not been able to be self supporting to the tune of spending $24 billion more than they had.

He was concerned with the practice and thought I was "equity" skimming and essentially planning to defraud consumers out of their money.I came across the Washington State Attorney General's page http://atg.wa.gov/hb2791prjune08.aspx#.UyfgGfldWJEand it does seem that wholesaling could be questionable.Is there ANY legal information/experience someone could provide me with that could help me calm my nerves and get started?

The renovations I'm interested in are more than "paint & carpets" but will not include additions, foundation work, or other major work (hopefully).Essentially, my strategy is to perform medium-level difficulty work on a 2-4plex with the intention of staying in one unit and renting the others out.

The first thing you need to do write out a brief bullet-list synopsis of your {collective} vision and plan - no need to be overly philosophical here {things will change}, but it is essential that you all be on the same page.

Look at that no extra income statement.I bet there is money to be found it just might be things deemed essential that at closer glance may not be.The 120k student loans are those frozen currently or are you paying on them??