I located a hotel that had been remodeled back in 2010ish and was still sitting vacant, Come to find out the owners have filed for bankruptcy and the property is about to be foreclosed on by the city itself.

Get the numbers, sit down with an attorney, send the Pres a letter.

Scott is absolutely right, there is no one answer to your question(s). It

What they failed to tell us is that we had to go to another seminar after we paid, sit through another 3 days, cough up another $10000 with our pledge to give them another $30000 for additional training (boots on the ground) supposedly in our town.

@Sean RandI don't know the specifics of this deal but I can tell you that if you could make $34K on a $26K wholesale deal, this property wouldn't sit on the market.

I plan on sitting for the General after the 3-4 yrs experience as a CB or CR.

Even so, as far as sitting things out, I sat things out for several years during the bubble when things made no sense.

@Dmitriy FomichenkoNow sit back and wait for the master of solo 401k to respond. :)

I'd probably sit on the house depending on what the payment is.

I would think you want to do many deals so after the first one, you can sit down and look closely at the results and adjust from there.My tips are to be transparent as the rehabber, don't skim, and give the money person peace of mind that he can get out of the deal if it sours.