@Jason RhodewaltYou may wish to look into "doing business" in California and how that is defined, as series LLCs are not recognized in California. 

The first thing to recognize is that performing certain work as an unlicensed contractor is a criminal offense in Florida, and the penalties for that are far more severe than for having unpermitted work on your property (this can be corrected after the fact).

Once you start doing this, you will recognize similarities in the properties you analyze.

For you that means you would need to purchase at least $200K in real estate using $100K of proceeds to do so.You can purchase less than you sell and you can take cash out but the IRS says that when you do that you are taking profit and .you would pay tax on the difference until you have recognized the full amount of your gain. 

At first I didn't even recognize it after subsequent storms.

Any tips on recognizing a good wholesaler vs someone who isn't? 

I recognize the debt to income component. 

While with interest rates low the probability is that the note WON'T be called, you have recognized that possibility and have a plan to deal with it.  

I do think more "deals" are coming on line as people recognize the banks aren't going to "help" forever, and people know we have kind of "hit the top" unless interest rates go back down. 

Thankfully not my issue, but just recognize stuff like this can happen.