Hello BP, I have a dilemma and would like your commentsAs an example, I have a house that I purchased and renovate for all in cost of $60,000, then sold it owner finance for $100,000 with $10,000 down and finance $90,000 for 25 years @10% interest, My old CPA took the down-payment $10,000 as ordinary income, and the gain of the $40,000 note was spread it out for the next 25years, so at the end of each year I only paid  what I earned My new CPA is telling me the $40,000 note has to be paid as ordinary income of 35% the first year and every year after just pay interest income, and the other method was wrong.

Hello @Fabrice EliacinAn ordinary purchase and sale agreement will do.Now it must allow you to assign it i.e it must include terminology that gives you"and/or assigns" the right to purchase the specified property and a contigency clause should you fail to find a buyerCAUTION/DISCLAIMER: do your homework to build a buyer's list and work hard to market that deal in the specified time.Also read up on articles and blog posts here on the particular strategy as many wholesalers have received bad name due to recklessness of others

Renters like the private entrance, patio, attached garage, etc.

It didn't have a business name on the letter or a logo or anything to indicate that we were anything but a couple of ordinary people looking to help out our family with some real estate deals.

It also had tile instead of raw concrete in the patio.

Now that we are settling in and getting all the new construction costs handled (landscaping, fence, patio, minor home upgrades etc) we are wanting to put our money to work for us in more than just the financial markets.It seems to be tough to find rental properties in the Denver Metro / Boulder Metro area that turn a profit on a 15yr mortgage, but I'm only casually looking while accruing my downpayment.Q: What price point should I be looking into?  

This particular row home does not have any grounds other than a small patio in the back and sidewalk in the front.  

I really want to focus on unique properties that stand out from the other rentals that have things such as a garage, multiple bedrooms, private back yard, patio area, etc.

This was so completely out of the ordinary, I had no idea it would move that fast.

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