A less brain damage plan would be to buy an already fixed up house and live in it for two years and then resell for profit with that approach.

We just did a title search, and we really want to purchase in hopes to resell with 3 months.

See 475.43.The only way to legally "wholesale" is:1. be licensed2. buy, rehab, resellIt is not legal to show or advertise properties you do not own unless licensed.

Deals come and go in a matter of days, especially in regard to rehab/re-sell projects.

In fact, our business model has effectively shifted over the past few months from rehabbing and selling retail to FHA buyers to wholesaling (or doing minor rehab and reselling) to these large investment firms.We're finding that our margins are greater doing it this way, as many of these firms are paying near retail for properties due to lack of inventory.

That is not enough to repair and resell at any profit.

And if I get the house back, I resell it for more, and another 5k down. 

Buy and hold is where it's at for me.Yes, rehab-resell is quite profitable, but there are sooooo many pitfalls, so many potentially unpleasant surprises.

I am thinking about buying a condo at an auction to fix up and resell.

I know the 90 day rule was lifted, can anyone provide more insight as to how to navigate this.I have a house we are purchasing for 45k and we can resell to end buyer for 80k.