You're definitely correct that there is a LOT for sale up here.

This post is based entirely on advice that I've received from other wholesalers as well as experts here on Bigger Pockets, and I welcome any correction or additional advice.

Everyone here is correct about what you should have done.

I just wanted to be sure because like you said Ryan people will sometimes either lie or not have all the correct information and i've seen people go under contract and end up having a great deal turn into a horrible one real quick because of issues the owner was unaware of.

This drives up the rental prices and almost eliminates vacancies if timed correctly.

If I get these down correctly, my next endeavour will be a waterfront community on some land I have picked out locally.Thanks for the tip, I will read it!

Please feel free to shoot me down or correct me anywhere that I may have been out of line.

Please put your comments on this, whether this is correct or there are options to buy a property with the help of bank loan which will generate positive cash flow for me.

If the IRS at some point figures out some entity is generating taxable income, perhaps from the documents title companies have to file, and decides you should have been filing returns and paying taxes, then you will be subject to taxes and penalties.You are correct that "active" isn't 100% cut and dried.

Hi Alex,Yes, the above comments are correct.