Those with a higher risk tolerance, like myself, will opt for the 30yr to maximise growth and long term higher returns.

Wholesailing is selling the ability to purchase a property (or the contract to a property).

The key is reinvesting the cash flow back into the business to spur more growth!

For those who don’t know, prop 10 would limit landlords ability to raise under market rents and basically cut landlords at their knees.

We can't predict the future, but if you look carefully at the growth data it’s pretty solid to support that Boise/Meridian is going to see healthy growth during the next several years.

And since they weren't going to have those mortgage payments anymore, and the rent payment was going to be significantly lower than their old mortgage payments, I wasn't concerned at all about their ability to pay. 

Then, you don't update your documentation every 90 days, you just don't make any fundamental changes that would cause you to lose the ability to qualify.  

I inherited some high value assets and stepped them up it also allows the ability to start to take depreciation on the stepped up basis. 

A lot of companies have their main offices here in the Phoenix area which is pushing a god amount of growth so occupation will vary but be median to higher income.Phoenix is very landlord friendly.You can accomplish the 1% rule in most to any market in this area in my opinion.The are areas that have smaller multi family but many bigger multi family being built. 

My question is:For tax purposes, do we need to record a Bill of Sale-type document for the amount that the other wholesaler paid me - OR - do I just account for this as normal income at the end of the year?