If you bought the property within the last 12 months, you can use 75% of the proven leased rental income. 

This way I lock in a longer lease and the tenant has proven themself.

I hadn't recognized it as a trend, but maybe it is.

Banks have wised up, and now recognize that they take far smaller losses on SS's versus foreclosures, so they're now trying to improve and streamline their SS processes.

I don't want to deal with that side of things....but FINDING wholesalers here in my town has proven difficult for me over the last year.

I think the important thing, Don, is that you recognized where you could have improved so you don't make the same mistakes going forward.

In my opinion, it is a little risky to either be just a real estate agent or just an investor, unless you have a proven system and are doing a high volume of transactions.The other nice thing is if there is a lack of inventory for investing (like I am seeing currently in the Seattle market) that usually means regular real estate is booming so only a portion of my entire business may slow down.

If you are BUYING from a related party the transaction will generally not qualify unless the related party does their own 1031 Exchange or the related party is recognizing capital gains (and paying the related capital gain taxes) that are greater than the capital gain being deferred through the 1031 Exchange.

Was hoping for clarity and understanding.Can anyone suggest a proven, reputable firm or person that I can go to here in SoCal who I can consult with to advise me on how to properly structure a loan/note to do this owner carry on this Palm Desert condo?

Now, that said, would I loan money to someone who has already proven that they don't know know how to manage it...for example, someone close to foreclosure?