Today, my lawyer of 7 years just remarked that he could write a very interesting law book off the cases I have brought him over the years.

Of course, you should also talk to a lawyer about this.Personally, I’m not a fan of holding hard real estate assets in a retirement plan.

His effective tax rate may be 20%, but his marginal tax rate, and what this would be taxed at, would likely be higher.

Had you been given seller concessions, you should have been well aware of how much they were and they would have been on the HUD.Discuss it with a lawyer it you wish, but I don't think you have a leg to stand on.

But, by specifically stating a "Cash Flow" number that doesn't include these expenses, you ARE ignoring them.To not ignore them, your cash flow statement should be, for example:Cash Flow: $309 MINUS OPERATING EXPENSESAt very least, you should include a disclaimer to the effect of, "The Cash Flow and ROI numbers do not reflect the inclusion of operating expenses; actual cash flow and ROI will be lower."

The exception is things that are billed just once a year and that are effectively taxes.

Are these contracts for wholesaling a standard form available from a state website, or do you have to get your own contract created through a lawyer tailored to each specific deal?

This market has effectively collapsed over the previous 12 to 18 months, as investors have fled the market.

For instance, a goal in your plan may be 'building an effective buyer list'.

If you have a net operating income of $40k and the offer is $100k per acre for 3 acres the effective cap rate at the offer price is 13.33%.