Most people should be able to handle to math side of this business as long as s/he has a decent grasp of arithmetic.Sometimes in the academia, people may over-complicate things. 

The state contract doesn't appear to have some of that wording in it.I don't want to take any unnecessary liabilities and want to do 60 day options, so is there a way to use the official state contract with a realtor and not assume any unnecessary liabilities?

I believe FNMA has a 90 day deed restriction, which complicates wholesaling..

You're probably making a complicated assumption about the credit risk of the tenant.

I would suggest go see a lawyer and setting up PPM - Private Placement Memorandum to avoid complication later on down the road.

As you can see, this is complicated.

The smaller deals tend to be a little less complicated.

I don't plan on telling them, it would only complicate matters.Comments welcome.

If you spend a dollar on any unnecessary expense and save $0.28 or $0.33 or even $0.99 (though we don't have any tax rate that high) you still are worse off than if you had kept the dollar and paid taxes.You should ALWAYS take the depreciation deduction. 

This feels complicated, but I'll do my best to make sense here:Rather than flipping, there is a property I am interested in purchasing for myself to live in.This property is an REO.The dwelling is in bad shape and in need of (potentially) considerable rehab.