Great question, I think the simplicity of investing gets clouded in all the techniques and strategies you find in all the different books, webinars, articles and blog posts.I wish I would have truly know how to value a property before I bought my first home.

Unless you can connect to a city sewer system, alternatives are gong to be more expensive than a new drain field.

But...The alternate way is to report the $200,000 sale in the LLC, which then flows through to the member(s) on a K-1.  

Any information is good :) Im truly learning a lot of new techniques and doing research the Wholesaling currently @Skylar Dejesus any books you could recommend?

I don't know many wholesalers that start off door knocking these days so I recommend studying more on alternative marketing methods to add on to door knocking.

Alternatively to setup a Nevada LLC to be used as an umbrella corp to setup the Tennessee LLC so that even if the CFTB did find out about an entity I could register the Nevada entity to "do business in California" and just pay the $800 fee for the one entity.The California based tax adviser pointed out the Federal IRS is sharing filing information with the states now.

Marketing for any endeavor worthwhile is key to successBut they are selling weath techniques that the masses are intrigued byThey get pscholgy coaching on how to stir people's motivationThen they deliver that to the publicCaveat Emptor, buyer beware

Offer note on other RE you own to seller for DP balanceAbout a hundred more "ultra" creative techniques that rarely work are also "possible" but that's an entirely different discussion.Best of Luck

OK  If you dont have 700+ credit and can not get some unsecured loans/cards to flip at a much smaller unsecured rate/payment then use hard money, if the alternative is to sit at your day job wishing you were not there. 

They are usually pretty good at describing what techniques and materials they would use.