Hi I'm just getting into this and trying to clarify the basic cash flow patterns of the foreclosure and short sale market.

I've been reading posts from people who are looking to do business with others, yet their use of the basic tenets of punctuation and capitalization are non-existent.

sighhh. i'm thinking of stopping this deal altogether because now the seller doesn't want to do the lease option and is basically asking for straight cash (which is ridiculous for the area) even though when I called him last, he was very excited to do the deal.

The depreciation on rental properties (residential 1-4 units) are calculated from the value of the improvements and divided by 27.5 years.For example, lets say your rental is purchased for $200,000 and the land is assessed at $40,000 and the structure (improvements) assessed at $160,000.

As all_cash points out, county tax assessments are all over the place vs. market values.

I thought it was a very simple, straightforward, easy read and a great guide to all the basics...Perfect for anyone starting out.When I first decided to start investing I had to put the info together myself from a ton of different sources and it probably took me a good 6 months to do that.

Unfortunately, I was just read that the city that I own property in has put a stop to allowing any more billboards or large "off premises" signs, which are basically commercial signs for businesses that do not occupy the property.Oh well, it was worth a shot.

All I walked away with was that it's a clever and convoluted formula, and basically that loans can be very evil, but obviously there's not always a way to get around them.

My goal at the time was to surround myself in the industry so that I can learn and basically live and breathe RE.

Can anyone explain to me the basics of wholesaling?