I'm looking to start a marketing campaign to bring in motivated sellers for wholesaling.But i only have a budget of about $500, give or take.What do you suggest I spend the $500 on, to get the most cost effective strategy.

But I think the tax effect is relevant to all.

Make sure you consult experienced people like real estate attorneys and CPA's who can research 1031 exchanges and updates that affect them.These transactions are not easy and as you are transferring your old basis of the relinquished property to the replacement property much is riding on your decisions and legal paperwork from the beginning.

Network with lenders, hard money lenders and private money lenders so you also understand about the finances of the transactions.

An inspection of the structure would be in order, untreated water damage can lead to a variety of problems, including staining, warpage, deterioation of pressboard(cabinets and shelving), mold, termites and other critters.Water is broken up into three categories when determining the effects on a structure, and what is needed to be done.

What exactly do they mean by points and what effects can that have?

More and more states are requiring realtor involvement in short sale transactions (for instance Oregon and soon to be California).

RTC did three groups of property transactions - MIF, N, and S.

If the deal is right, it will sell.I think having two websites is effective, one for buying and one for selling.

What effect is THAT likely to have?