@Heron Barrerausing a joint venture with the seller versus wholesaling a minor rehab generally provides a better result for the seller as far as the amount of profitCompare these two offers70% of ARV of $200,000 minus repairs of $20,000 - wholesaling fee of $5000 = $115,000 net to sellerJoint venture with the seller is creating a note for their equity but not paying off the note until you buy, fix and resell the propertyNumbers on the joint venture-ARV 200,000-Repairs $20,000-Note to the seller 148,000, first mortgage-private lender loan for rehab $20,000 plus interest of 10% of $2000 equals $22,000 second mortgage-joint venture fee of $10,000 do to you upon resaleWarning: you have to get your repairs right and your ARV right,  otherwise you lose money

You may qualify to exclude up to $500,000 of that gain if you file a joint return with your spouse.

I would love to see the numbers on OP's DTI impact with and without the car loan, @ 100k gross income (ave joint income), with a typical 25% ratio for the primary home.

I believe in coaching but the thing is is so hard in this business is to have a time to talk to sellers and buyers and agents.I would get my sales license first, and then work as a listing agent for six months to a yearI would learn my state sale and purchase agreement and be creative with Sub 2 existing mortgage, tenants in common, all sorts of creative contractsI would find some private lender money and joint venture money so that I can do deals without banks or creditThey I was taught by a business owner with 40 years experience; he paid me 500 per . week regardless my productionI coach people for 12 months at a time.

@Steve VaughanGreat comment on improving houses you don't have title with sandwich leasesGet on title with "subject to" and a note, no payments on note until the house is resoldOn minor rehabs consider doing a Joint venture with the seller by buying sub2, fixing with private money, reselling fast for a JV fee of $10kMerry Christmas to you Steve!

I would assume that you would have a mortgage and a deed of trust to secure the property, however, the deal could also be structured with a joint venture agreement. 

You're effectively borrowing constantly at today's low rates...

He also expressed that he'd be willing to joint venture on his land where he'd supply the land and the JV partner would build.

Consider doing a joint venture with some other AF guys/gals and pooling resources to buy and flip some properties to make some money to then buy and hold some properties. 

You can do Joint Tenants or Tenants In Common.