Do I need a real estate attorney to draw this up--we are all working quickly and efficiently together so I'd prefer to keep it simple, but don't want to overlook anything.

I'd suggest reading as much as possible on this site to get a better understanding of what specific wholesaling niche to start with, and focus your energy on doing one deal in this specific area (e.g. pre-foreclosure, REO, absentee landlord, etc.)

So he can focus his energies on his new endeavor.

Or maybe he is on Meth or just drank an energy drink.It simply seems over the top to hammer these guys for something that is seen in all social circles.It does not matter anyway, most investors never listen and never hear anything other than what they want to hear.

Before I bought my first house (primary residence), I knew next to nothing about renovations and improvements.

I like commercial because there is not as much competition for it.You can structure a deal more creatively and there are more different types of lender loans than for residential.Residential is highly regulated by the government now.Commercial I don't want the government messing it up as well and squashing creative financing.I like commercial for economies of scale and ramping up larger transactions.You can make money in residential it is just not my thing.I like retail and multifamily.Medical will be hot for many decades to come as well with the boomer generation retiring.I don't care much for industrial but I am seeing some transition areas where a developer takes an industrial shell of a warehouse leasing at 2 sq ft.They put improvements in and get rezoned to mixed use retail and get 15 sq ft lease rates.

One of his property (102 unit) is doing good, great property manager, 92% occupancy, no debt, after 7% improvement reserves, NOI is 178K.

I take pride in my properties...I want them to look nice, be safe and efficient which translates into good tenants and less headaches.

Of course that takes time and energy!

House across the street from my personal residence is on sale and I can get a heck of a deal on it, I'm thinking about buying it and either sitting on it for a while until the market improves a bit around here or possibly rent it to a company that brings a lot of executives to our town, mostly on a temporary 12-24 months basis.