Like Robert Lett was getting at, nowadays, its just not as easy or profitable to short sale flip(at least in my market) and yes, you should expect to close/fund it before reselling it.

Rehab: Max offer 70% * ARV - repairs (hint $5k is probably wrong)Wholesale: max offer 70% * ARV - repairs (even MORE important to be accurate here because you have to find an investor buyer who will want REAL numbers, not guesses) - your desired profitKeep in mind if It's listed, you'll have to actually purchase the property & resell to wholesale.

Also, some developers have a stipulation in the contract that you must live in the house for 12 months before you can resell it.

Also will be difficult to resell as an exit strategy.

Quads are generally an easier resell than tri-plexes.

Basically, it's the common medium term note that is used to package and resell real estate debt on the stock market..

I am mostly interested in flipping and reselling homes and learning how to do this.

Below are some things you may wish to consider, as to which Corporate Enity is best, for your Business Model as well as your REI Goals and objectives.Flipping PropertiesIf the primary objective of your real estate business, or one of your real estate businesses, is to buy, potentially fix up an existing property and resell it within one year, the Internal Revenue Service can consider that to be an active trade or business.

That exact number will give you an idea (in addition to his debt to income ratio) of how easy/difficult it would be to resell the note.

Now I have 2 units in and area where the RE sells for $1M+.If I were staying with B- to C class area I would stay with the duplex option.