This cost is factored in and deducted from potential profit.In accounting lingo, I treat myself as a cost driver and show up right there in the COGS at the end of the year.

A wrap would be an installment sale, so you are deferring gains over the years you are receiving payments.I don't have the time to look it up right now; however, I do not believe you can 1031 a wrap.

Just depends on what you are trying to do.If you are trying some crazy strategy because you have no cash and 100 things have to line up right for the deal to close and for me to get paid than no I don't like those kinds of deals.I like vanilla deals where you might have to get a little creative but the buyer has skin in the game (cash).I want to work with long term clients and not one off deals.I also do not work with people who would think I am overpaid or that a broker doesn't bring any knowledge or value to the table.Those types of people are very close minded.I believe you get ahead by networking and learning new ideas from others.You have to understand that brokers/agents get hit with many schemes by so called investors trying to make a quick buck.Many think about the quick buck now and the legalities after the fact.To protect our license we cannot act in that way or do transactions that way.

It's tax deductible if you set it up right..........There you will learn unprecedented knowledge to do deals for wholesaling as well as learn what did an did not work to close deals.You can meet possible money partners on hot deals you findetc.Say you spend the thousand on mailings and get a bunch of calls- what then??

Until now we had been flipping and are transitioning into buy and hold and want to set it up right.

As for Apartments ground is being broken all over the place my neighborhood alone has 1300 units going up right now!

Thank you I didn't know that and I will get a pic up right away.

I'm doing a market analysis on a 6 unit commercial property and can't come up with potential suitors other than maybe: a cash/check store, barber shop, tobacco shop, antique store.I've received interest from a private tutor academy as well as a martial arts studio and I think those two businesses could help attract a new crowd to the commercial property.

We started by buying a fixer-upper REO for our first home, moved in and worked on it, took a while as we didn't have money to fix it up right away.

I teach Brazilian Jiu Jitsu and gain a lot of contacts through my students and other people in the martial arts scene.