That is our little test.

You could even start to test the waters and find off market deals to wholesale if that appealed to you.

You don't have to inspect,but you can take a quick look and a quick sniff... if it doesn't pass the sniff test, they're outa there.

I have some liquid capital to work with, though I don't know yet whether it's to the level necessary for executing a flip (part of what I'm trying to figure out, I suppose).It's my understanding that wholesaling is time-intensive, i.e.

Property purchase from yourself (or an affiliate) does not count as a qualifying asset for purposes of then various asset tests under the OZ rules, so doing the purchase now and figuring out the OZ piece later likely won’t work.Also remember that you need to have capital gains that were triggered within the last 180 days to be eligible for ANY benefits under the OZ rules, including the 10-year tax-free appreciation election.

So, we had the entire property tested (air samples and moisture readings) and it was determined that 4 of the rooms needed remediation (2 bedrooms, a living room and a bonus room) ... that remediation cost just shy of $4k - but, luckily, didn't require opening up any walls or fixing any pipes.If I were your agent, I'd be recommending that you get the property inspected by a mold remediation company before you start negotiating for a lower price. 

There are very few properties I've seen where it's bad enough to need extensive work.For the mold too, there are quick fixes where you can get rid of it and have the air tested for a fraction of the cost of what the mold remediation companies will charge (And they're just doing the same thing you would be)Realtors are there to advise you but ultimately you shouldn't expect the realtor to push you into buying it.

As with all construction, you need to pay special attention to the cost for asbestos testing and abatement because the cost can be more than you pay for the property and there is asbestos in more than 2,000 building products.

You may need to check for water leaks, drippy faucets, or running toilets (food coloring in tank test).

The goal of that class is to get you to pass the MO Real Estate license test.