You are not buying another country..you are buying a house.

Thanks a ton for looking at this and giving me your thoughts.I agree with your equity point and I'm thinking of taking the first few months of cash flow and paying more of the loan down to gain equity quickly.I'll be going after private/hard money for this loan.  

I agree with you, but that's not my point.  

Hi @Ashli Addison, welcome to BP and the REI world, yes i agree there can definitely be an information overload with educating yourself in REI, but its good that you are now jumping to take the next step and get some forward motion on your business, while you will never stop learning taking the first steps and making real progress is a big accomplishment and one step most new people never take "study from the sidelines" but best of luck with your REI adventures and post up any deals/success/questions you get, we all like to see each other succeed,good luck,jay,

I was looking into wholesaling because a fellow investor presented a  deal to me which includes a very motivated seller...My business partner got the seller to agree upon a price that is around 60% of its appraised market value..

I agree the risk is likely too much when considering the reward. 

When would they be able to agree upon a price with their lender?

I  totally agree to follow the debt snowball and invest with leverage.

I totally agree with you that house hacking under personal name even for a year is too risky. 

I would have to agree with most of the other commenters.