We built spec homes in the early 2000’s, which was very profitable, but we all know what happened to that market.

I figured I'd give house-hacking a residential duplex/triplex a try first to get my feet on the ground before tackling something bigger (though definitely want to go for bigger properties eventually, economies of scale make it more profitable I'd think)

Any house in San Jose is going to be worth far above that, so whatever back taxes are owed would usually just come out of the seller's net profits at closing.

All the info and help you need is right here, without taking half your profits!

With such a big purchase I assume that’s the best way to wholesale such a deal when you want to keep a big profit margin from scaring off the B-CI assume that you sign a regular purchase agreement and just make sure to match the terms.

.- your rehab costs of $150,000.Unless I am missing other reasons you won't have these costs, I see you barely making any profit ($10,000).

I was thinking about putting in the following:Personal financial statementPrior rent rolls on the property for 3 yearsSome type of public report on the value of the complex (zillow or other) ... not sure on this oneA profitability statement ... thinking about using the one on this site from https://www.biggerpockets.com/real-estate-investme...

Your offer that makes sense to you with that rate can never be the highest, assuming you are doing the same prudent cashflow analysis that your competition is doing to come up with how much you can offer on the property and still turn a profit.

But the IRS views that as taking profit and wants the difference to be taxable.  2.

If you are a licensed real estate agent and end up selling your own property, do you still get to write-off the real estate commission against your profit/loss on the sale?