It says you are committing equity skimming in FL if the you buy the property "subject-to", collect rents and don't pay the mortgage.

He is doing additional research before he commits to an answer, but is leaning towards the same approach as I got from the TurboTax adviser.

In late 2009, Lagow filed a whistle-blower complaint under seal, charging that Countrywide had committed fraud and violated the U.S.

The type of person I am, I wouldn't commit to a deal like this unless I really did my research & had multiple exit strategies already planned out.

4% seems reasonable for a wholesale deal where have the property under contract and are committed to actually finding a buyer, as you would be if you had it under a contract to purchase or a listing contract (wholesaling and brokering are the same job, IMHO.)

When I come across unreleased trust, I will have my processor put an exception in the commitment requesting a letter of indemnity or recording of a release.

If the agent knows about the end-buyer, the agent is committing fraud as well, and putting his/her career on the line.I'm not an attorney, but that's my advice...

Make it prevalent an known on your Facebook page that you are a real estate investor who is looking for deals.

Again, you'll have trouble getting the bank to approve the sale if you disclose that you'll be reselling and you'll be committing fraud if you don't disclose.Plus, most banks have a required hold period after you buy before you can sell (30, 60, 90 or 120 days, depending on the bank).If you don't mind holding for 30-120 days before you resell (and don't have an end-buyer contract at the time you purchase), that should work.

What I have come to discover is that many of the most successful investors buy/sell their first 2-5 mobile homes in parks or on land before committing their time and energy to become licensed.