This makes it a good time to pick up some cheap properties to hold through the rough times of the next 4-5 years and then possibly look at reselling them.

Rehab hard money loans are important to understand if you are thinking of rehabbing and re-selling any piece of property.

I plan to fix it, resell it, profit and pay taxes on any proceeds I receive from the sale of my house.

And cleaned up the yards At that price if you rent afew months they more than pay for self then you can keep renting or resell Gave $600 for one that stank and moved it to a lot I bought for less than a grand , cleaned some and got $13,500 for it I am new to investing and don't have big bucks so I have to bottom feed a while but so far I make a little on everything

In addition, Danny, who is a computer geek of some sort (Sorry Danny, but I do love your story about what drove you from geek-world to flipping) uses his flipping experience to optimize a website for what we all do.....wholesaling, flipping, getting leads...the website is so user friendly it allows you to tailor whatever you want to focus on,wholesaling,  RE selling,,,,and it comes crystal clear videos narrated by you guessed it Danny the ace flipper ;)If BP was amazon, i'd give it 5 stars.Nice addition to BP.

Initially I am looking to make some capital by purchasing distressed properties in these areas and either assigning the purchase contract to, or immediately re-selling the asset to a contractor or other investor to rehab and resell or to hold as rental property.  

Legally you can get 1) a sale and purchase agreement from owner and assign that deal for a fee or get hard money and buy it and resell it, 2 closings2) get an option from seller, record it, and sell the option for cash to buyer

Here are a few thingsSeller financing with multis with investors that understands seller financing is much easier then single-family houses; no Dodd Frank when investors buying from an investorIf it needs work on a multi, and you know values well and you can price it well, don't forget you can do a joint venture with the seller, by subject to and a note, fix it and resell it, but you need to get private lender funding for the rehabRegarding single-family homes remember thisWe are here to make a profit either on price or termsRegarding price if we don't get it at 20% discount or more I think you're being a foolYou make the money when you buyThink of a car dealer: what did they say when you try to bring your car to their lot and sell it to them?

As a reseller, I would not make a point to discuss it.

This article helped me out before I met with him:http://californiashortsalelawyer.com/2010/04/freddie-mac-article-on-short-payoff-fraud/The bottom line is disclose to all parties, including the bank, that you will be re-marketing and reselling the property for profit.