Also i'm analyzing to do the same transactions in Chicago.Any advice is appreciated.

I just acquired a foreclosed property in TC, 500 ft from one of the inland chain of lakes ( Spider, Arbutus) for a great deal.

We've been eyeing West Seattle due to the relative affordability and landscape but her colleagues cautioned us not to live anywhere where we need to cross a bridge to get into the city due to the traffic.

I stay away from the cheaper plastic heat tape, it has to be replaced every few years, and is move prone to catching fire if it crosses over itself.

Look for a 100% transaction fee type brokerage.

When facilitating the transaction I am 100% transparent and I disclose everything.

@Rupert GrantGenerally if you're eligible for a Solo 401k, it makes sense compared to a self-directed IRA for many reasons: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.You can borrow up to $50k from the plan; IRAs do not allow participant loansThere is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)The one exception I can think of is if your primary goal is to self-directed Roth IRA funds.

This was a deal between family therefore, it was concerned an "arm's length" transaction in which we did not use a real estate agent.

(many of those guys end up being sued btw)Smarter way to transact business in a similar capacity to what you probably like about wholesaling would be getting a real estate license & selling properties that way.

The hardest part is spending 12 hours searching for a BRRRR and brokering the transaction on a 40-50k house and making peanuts.