Personally, I like wholesales because it is easy with very limited risk and huge paydays.

The net result is that the "taxable income" from the rental may well be negative even though the cash flow (aka money in your pocket, which is rent - expenses - mortgage payment) may be positive.There are limitations, though, on your ability to deduct this against ordinary income.

Every individual property is in a seperate LLC and as broke as possible, this limits the liability should something go wrong (lawsuit) at any one property.

Cheyne,Having done fix and flips for 12 years, both Jon and Mike give you excellent advice.I always limit the number or use of contractors specifically for the reasons you have experienced and Mike described.You sound as if you are at the end of the line money wise, if you can't get capital to finish, either through private money or a money partner, I would lean towards selling as-is and get out from it before it becomes a further burden.

But here's my problem: If I drop that much to just try and get a sale, I'd prefer not to use a realtor because commission charges arent factored in to that cost; thus, my exposure is limited and its harder to find buyers.

The electrical work will be limited to several outlets.

Talk about limiting your exposure!

-----Original Message-----From: Dr.Clinton Johnson [[email protected]] Sent: Monday, October 22, 2007 11:49 AMTo: --NAME -- Subject: PAYMENT AND MEASUREMENT $2500 / 4br - SELLER FINANCE THIS BRAND NEW HOME!!!

The amount of physical labor would limited...im no spring chicken anymore but can direct the contractor what needs to be done.

If you have limited assets, limited income, and are being forced to move, they may be willing to work with you.I recommend you rent where ever you're going.