In case it is important, we are based in CA.Administrative Requirements: Are there differences in ongoing fees, reporting requirements, or other administrative burdens between the two states?

This is the new law in TEXAShttp://silblawfirm.com/real-estate-law/the-legality-of-wholesaling-real-estate-in-texas/

I am in my longest no purchase period in over 15 years.  

There are great responses in here.

My extensive real estate experience consists of 1 flip.I have an idea and I'd like to test the waters here in the forums.

I just want to make sure the COGS total can be deducted in the year the sale is completed. 

Both laws use the same terms, but define them in completely different ways.I find it best to reference HUD's guidance memos on the subject.https://www.hud.gov/sites/dfiles/PA/documents/AsstAnimalsGui...https://www.hud.gov/sites/dfiles/PA/documents/HUDAsstAnimalN...https://www.hud.gov/sites/dfiles/FHEO/documents/19ServiceAni...

These are very different than the fees outlined in the paragraph above.

We have one up in NH on Crescent Lake.

Hi Charles, I think you made the best decision in terms of an exit strategy.