However, the good news is since you've owned the property for over a year it will be considered a long-term capital gain which holds a much lower tax rate than if you owned it for less than a year.  

Wholesalers take that original contract and will assign it to and end-buyer (you) for a small fee.

I’m currently very interested in investing in real estate long term and would like to get started with house hacking soon, hopefully by the end of the year. 

How do you handle the difference between the original last month's rent and the current rent?

I’d recommend trying to decide which route you prefer after the original hard money loan because the amount of time to actually create my last LLC was much longer than I expected despite the company that was doing it saying they had like a 2 day setup.

They didn’t want to sell on the market because they didn’t want to do showings.A Win-Win Offer: These are the Terms that Were Accepted-$500k Purchase Price.

Continuous improvement is key to long-term success.Please feel free to DM me if you want to discuss further and potentially get your investing started!

If all goes well we know we got a great deal on this home with an extra building and will turn it into a great portfolio starter for the long term! 

It feels like you are trying to skip steps rather than doing the hard work of delaying gratification, thinking long term, and slowly building wealth.

If you retain the original inherited IRA in liquid investments at the current custodian, but transfer only the amount you expect you will need for the real estate investment to the new self-directed inherited IRA account, you can take the required minimum distributions for both accounts from the one holding the liquid investments.