That is the thing, you have ot do your homework on how to do it and to many just blow right through the part about educating themselves on the process.I hope to meet you at some networking events soon here in Chicago for a more in depth discussion.

Lots of in-depth discussion about REI in the Austin MSA.

We had an in depth walk through of the property and everything seems to be in great shape!

Marie Poe gave you a great example.When I approach this type of situation I like to have more in depth info before I propose solutions to the seller. ( sellers expectations, wants & needs, current rent, market rent, expenses, existing loan balance & terms etc.)It would be cool if this transaction could be done using your IRA (or someone else's) to buy an option.

Elizaveta, I will take a crack at it since no one has responded yet. 1) My first deal was a fairly in depth rehab which included foundation repairs, window replacements, garage roof replacement, electric work, plumbing work, floor refinishing, and a lot of the things we do to almost all our rehabs (new light fixtures, new outlet covers, new appliances, new doors, etc).

I searched and found many forums similar to this topic, however most of the died shortly after starting with no in depth information explaining the difference between residential and commercial wholesaling.I have found a great deal on a 7 unit complex that should sell quickly to a rehabber/investor, but would like to know how different it is from a residential purchase agreement and assignment contract?

I'm a professional poker player but I file as a professional gambler for tax purposes - more write-offs.

I'd say no RE program or book is worth more than fifty bucks, if it's in depth, maybe a hundred IMO!

Everything that David Beard wrote about the in-depth and multiple tasks involved with such a business is accurate.

Most will give you credit for the bonus income so long as you have consistently received it over the last 2 years and that its likely to continue.As far as getting pre-approved via a credit union or a bank, keep in mind that credit unions are regulated much differently than banks and mortgage bankers, so they typically dont have the depth of programs and cant go to as high of an LTV on the purchase as a bank or mortgage banker / broker can.As far as 4 units being tougher to finance.