Obama library, casino, etc.) in conjunction with affordable prices and no rent control regulations. 

Originally posted by Joe A:Why would you want to own debt locked in for 30 years in rising interest rate environment?

., good post, if you feel I wsa giving poor advice in my opinion please point it out to me, I'm a bean counter regulator type, not an attorney.

But this is not an environment that seems to welcome wholesalers and I understand why.

Again, **please read all IRS regulations and consult with a CPA. 

Sam & Heather Jones Well, the first thing that you should look for is to check your zoning regulations.

The regulators give very clear explanations of what is legal and what is not in relation to wholesaling.

Oh, BTW, I take phone calls, when I'm in a noisy environment, like a Rave concert in my living room, I don't answer the phone until I can get to a more quiet space!

Interesting, Darren, my definition is very close to yours, but I'd say there is another important element, the quality of the information given.To me, the derogatory use of the term is applied to those that add fluff, exaggerations, aspects that while may be technically correct but are highly improbable to replicate or simply put out bad advice with no consideration to ethical issues.I make that distinction because, some professor in some university teaching a real estate course or some instructor in a state approved real estate school for agents isn't a guru, they are teachers and instructors.The difference in being a non-guru teacher is two fold, 1. the materials taught are compliant with rules, regulations, laws, accepted in practice and are based in sound applications of the business; and 2. they are qualified by education and experience, by education that has some professional level that is determined by proof of their mastering a level of knowledge, testing and degrees earned or certifications by proper authorities in the industry or academia.

Couple those goals with the inappropriate structure of insuring deposits (mispriced). the opaque accounting used for financial institutions, the ability of financial institutions to "innovate", or as one of my college professors puts it "loophole mine" the regulatory structure and regulations themselves and the FDIC's role becomes a Hurculean task.Pulling back to 30,000 feet and most observers would realize that there are a lot of players and a lot of poor incentives and other factors that share the blame for this recent crisis.