My goal is to eventually buy and hold but I have been thinking of wholesaling in the meantime to gain capital.I went around San Diego (92126) the other day and took note of several houses that seem vacant and/or unkept.

I just joined BP hoping to gain a little more education on owning single family rentals.

Placing properties in an LLC is pretty much an acceptable business practice in RE, for the liability protection you need to pay attention to how you run the business.

My initial issue was gaining the capital necessary to make this more than just a dream.

Hi Nick, no that will not affect your terms.Another question: do you have a capital gain on the townhouse?

Regardless, the HOA foreclosure should get a lot of attention and the HOA will get its back payments!

The wealth of knowledge I have gained so far has been invaluable.

If you hold longer than 1 year then you'll be eligible for long term capital gains rates upon resale.Your equity can serve as a saving account to be used for future acquisitions.

Congrats to Josh and the BP community...gaining momentum every day!

When you sell, your gain on the sale is based on your basis, not the original purchase price.