You ever think about getting into larger apartments via partnerships?

It's not what I would ever recommend, but it is doable.Your worst case scenario (and not a likely one) is the IRS auditing one of you and then deciding to cross-check against the other.

Back story:I've been lurking for a short while and have learned way more than I ever imagined I would hanging out on this site. 

Newbie wholesalers who have never done a deal, most likely won't know what things cost.Truth be told, you don't "need" to have done deals, but within about 30 seconds of reading a wholesalers advertisement, I can tell if they have ever rehabbed a house or not.

I did the math assuming a 6.45% Cap Rate for Orlando, along with $115,544 NOI but I don't believe this building could ever be worth $1.8M. 

You pay taxes on what is left for you, presumable your half, in whichever way you calculate it.Some of my colleagues will disagree, but I maintain that individuals do NOT issue 1099-INT, ever.

First, are there ever scenarios where a bank will finance a foreclosure with 20% down?

Has anyone ever looked into this type of business?

Have you ever thought about buying in a mobile home park?

Please avoid at all costs if you ever happen to come across him in the Bakersfield, CA area.Daniel MenaGolden Valley Real Estate GroupBRE Broker Lic.