Do you just leave it in a savings account earning next to nothing for years or maybe decades until one day you need a new roof? 

You might want to go to the local rei meet ups to find investors that have sold properties at their peak to buy either apartment buildings or properties out of state.

Quick one,I understand profits from wholesaling activities are tax as ordinary income; but, is there a way to minimized the taxes that one needs to pay from money earned in wholesaling?

If you decide to pursue your real estate license, you can leverage that to earn while doing something real estate related.

Accredited Investor'In order for an individual to qualify as an accredited investor, he or she must accomplish at least one of the following:1) earn an individual income of more than $200,000 per year, or a joint income of $300,000, in each of the last two years and expect to reasonably maintain the same level of income.2) have a net worth exceeding $1 million, either individually or jointly with his or her spouse.Good Luck

You should be using your investing to PAY OFF your mortgage, not create more debt.Plus, when you BORROW money, and it's not your own hard earned dollar...you tend to make less informed decisions. 

I'm wondering if purchasing tax liens would be smart strategy for right now -- a way to earn a decent return, while waiting for the market to cool off before jumping into purchasing houses.I would appreciate any input from the community.

I may just lay low and let this one pass but it has definitely peaked my interest.

Unless your spending your hard earned money on actual deals everything you want and need to know can be found right here on BP or the internet.

Great way to earn a living...