I have read the posts from the past 4 months trying to get a better idea of what is involved and what the process is (while literally taking notes).

This is actually an illegal practice in Illinois anymore: http://tv.yahoo.com/contributor/1028501/news/urn:newsml:tv.ap.org:20080815:people_ed_mcmahon__ER:22067On a little more serious note, this may actually help the image of investors to show how they can help out folks in medical crises.....

Were you doing lease-option contracts, or were you carrying the notes?

Maybe one day you will need a doctor's note to grab a beer instead of a bong hit, depending on the economic implications.

Take time to complete great notes and comments about each order so that one can easily read your report and get a great rundown of the subject property.

The income on all of them don't even cover your note+taxes, let alone any expenses, vacancies, maintenance, management, etc.How is the income good here?

Yes, you could sell with a wrap around note, a Contract for deed, a lease purchase, assuming the note the seller gave you does not preclude you from renting it to someone else.

Mike, if you read the IRS guidelines, you will note how you become classified as a "dealer" and thus how you are taxed differently.

If I want to read about wholesaling, I don't want to scroll through the Starting Out section to find wholesale posts, I want to read about it in the wholesale section while my mind is geared toward learning about wholesaling and grouping information in my mind about wholesaling.By looking at the post counts, it almost seems like all the other sections should be consolidated into one thread or the Starting Out section should be removed (or even better- fill it with stickies with general FAQs) to force posts into the proper sections.I think that it's almost an option where to put it- I could ask a rehab question in the rehab section, or just put it in the general since anything falls under general.

I have seen this idea used in other states, in affect, the seller did not have the legal right to extend financing at the time the note was agreed upon, at least thats how it played out in a deal I saw go through in Arizona.