New to wholesaling and I understand that there are sharks out there who only want to make quick cash and upcharge the contract with outrageous numbers but I would like to genuinely make a career out of wholesaling and eventually move up to being a landlord.

Issue now is we plan to have these properties in a Land Trust, which is then put into an LLC, that will be under an Umbrella LLC.Are there issues with this structure if we are getting these loans separately or would we need to get them jointly as we own the Umbrella LLC together?

Capital Gains Home Exclusion Tax - If you have owned and used a property as your primary residential home for at least two out of the last five years before selling it, you’re eligible for this exclusion.This exclusion according to the IRS states that “if you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse7.

If and when she does, she has to be presented with the following options: 1. fill out an application, pay the background check fee and then be ready to sign the lease and become jointly and separately responsible for the rent and any other stipulations of the lease if she passes the criteria you have in place for evaluating tenants. 

He didnt have 3 months reserves so I gave it to him in an joint account we just set up 6 days ago. 

It's too bad because it makes people who are genuine and good suffer sometimes.

I would invest in an HML or do joint ventures with others where you are the money partner and they provide the time and expertise.

The amount you owe has no impact on the gain.You are correct that you would be entitled to a $250,000 gain exclusion if you lived in the property for 2 out of the last 5 years(and you are not filing jointly).

Now he wants to deed out title as follows:John Smith, a single man and Debbie Johnson, a single woman, as Joint TenantsQuestion: Could he lose title insurance coverage if he deeds out?

If you only have a few investors you might want to consider a Joint Venture (JV) versus a syndication but speak to an attorney before making a decision