I'm in a different position so I try to put it in perspective.I did go overboard on my finishes in my condo but I was rehabbing it for me, not as a potential rental property.

If its positive, add it to the total income.

On a positive note: The HUD house is not in a particularly bad neighborhood.

Journal is indeed positive, is it too premature?

I have overseen over 1,200 units as a commission of a large PHA and I cut costs and overhead and had some significant maintenance/improvements made, hired an attorney on staff, acquired other properties for expansions and brought the PHA to a well performing rating, don't get me wrong as if I'm taking all the credit, there was a great staff and excutive director that I put in there that was amazing and they get the credit, but I stepped into that appointed position and had never owned 100 apartment units at one time!

That being said, if in your position, with a friend that has money making them 1% or -% in the market, I would work out a simple deal where they could invest the capital and earn simple interest between 5-10% on a loan amortized over 30 years, with a balloon due in 5 or 10 years, or as far out as they will go.

To answer your question James I would like to start with wholesaling because I feel that is the most feasible way for me to get started and have positive return.

Hi Everyone, I am now in a position where I can purchase a property.

I'm in a similar position to you.

tenant is not in position to buy now but will be in 2 years or so.