You can only qualify for tax-free exclusion treatment under Section 121 of the Internal Revenue Code if you OWN and LIVE in the property for two out of the last five years. 

Foreign investors also qualify for tax-deferred exchange treatment if they decide to sell and reinvest in investment real estate via a tax-deferred exchange (Section 1031 of the Internal Revenue Code). 

If not, then the Seller Carry Back Note would be excluded from his/her 1031 Exchange and the note would be taxable under the installment sale rules (Section 453 of the Internal Revenue Code). 

Dj, I don't know what your personal situation is... but if you're young and have the time, show up at an REI event/meet up and offer your services as an intern. 

Originally posted by @J Scott: I would prefer IRR (or MIRR).MIRR stands for "Modified Internal Rate of Return"...Basically, IRR is great for taking a set of cash flows (inflows, outflows) over a period of time, stick them into a formula and having the formula calculate your compounded ROI. 

Back up a bit:  many of the documents can be electronically signed, to start with. 

I am interested in wholesaling/rehabbing and hoping to possibly intern or birddog for a local wholesaler/rehabber. 

As we suspected.If you’re still with me, we can actually do some even more interesting calculations now.You may have read the article I wrote a while back about Internal Rate of Return (IRR).  

One nice thing about Home Depot is you can get electronic in-store receipts from their website.  

You would then do a reimbursement via Transfer Funds electronically in your bank website and record a journal entry "due to/from xxxx" account.it's less of an hassle and this is how I do it for the companies I worked for.