As a wholesaler you would have been classified as a dealer for ax purposes, meaning your houses are inventory and you should have reported your income and expenses on schedule C.Your schedule C $8k loss should have flowed through to your 1040 and decreased ultimately your taxable income.You can carry forward your sched C losses of your 1040 income goes negative.I think you should look at amending your 2013 return.

You will find that the community of investors here is extremely welcoming and the information is second to none.I would definitely read the Ultimate Beginner's Guide and listen to the BP podcasts.  

At that point I will consider a combo of selling/holding in order to meet the ultimate goal of purchasing  a retirement home in my beloved home town of Santa Cruz California to be close to my family again while maintaining a seasonal property back on the east coast to be able to spend time with my kids and extend family here.I am looking forward to learning more and meeting others who share similar interests here on BP!

So I'm really thinking this is ultimately a deal with their parents.  

If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and don't forget to set up your Keyword Alerts!

Without knowing the end goals required to fiancé a property you can't really employ any strategy, the ultimate goal is always to pay for it or allow someone else to pay for it and obtain title. :)

If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and don't forget to set up your Keyword Alerts!

If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and don't forget to set up you rKeyword Alerts!

If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and don't forget to set up your Keyword Alerts!

Ultimately investors are investing in the mtgs, so when rates get to low, mtgs loose their appeal.There is a chance, if you can handle the 15yr pmt, then your rate is there already.