If he received no compensation, yes...as long as he doesn’t represent anyone.

., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31); When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.

If, however, you are buying it with cash and without an inspection, you could tell the seller that you can close in a few days, which might let you negotiate for a lower purchase price.In the scenario where there is a loan with interest, and the interest is all your father-in-law receives (he isn't getting any of the profit after the sale), then he is indeed a true lender and this is a true loan/mortgage.

The lease received from the prior landlord states that the tenant did not give a security deposit, her lease is up for renewal in 6 months.

My plan was to follow up with a text message with website link (which I just set up) buying4cash.com - While working Full Time until Im established enough to make the switch to wholesaling Full-Time I wanted to try to develop a system that didnt require me to try to grab each incoming call, but rather be able to return the "cream of the crop" at the end of the days. 2.

Is there any other income you receive that we haven't previously discussed?

Agents in rural areas or doing commercial will probably find these tidbits helpful.In terms of what is VERY useful to all agents: pay special attention to contracts and how mortgages work.

Over time, as the property value after rehab seasons, you pay down the note a bit, and receive additional cash flow, re-configuring the financing on the property might produce more bang for the buck. 

I'm hoping your first one gives you enough confidence to more quickly grab your second.

@Julio Fernandez You've received a great response from @Joe Villeneuve.