Inside the LLC agreement you have your operating agreement. this will spell out the business deal that you two cut.. as well as what was mentioned above which is basically a buy sell agreement..

Harry Borders basically equips all the wholesalers with contracts and best practices for protecting yourself as a wholesaler.

You definitely want a basic, working knowledge, but use those people skills to find out which attorney's are being used in this area who specialize in real estate.

5 - The difference between Spending and using Money6 - ...that's the basic list

The reason I ask is because I had taken our basic wills we had done ourselves from a template to a lawyer to draw up new ones that included our rental properties and other things. 

I'm still new so bear with me, if I'm looking to net $350k from a buy and hold portfolio assuming my doors are netting $200/month does that mean I need roughly 146 doors?  that seems like a large portfolio.  Am I miss...

So when you sell your new Propery at 375k, you basically get tax at the same amount.if you are eventually going to sell within few month, why spend money on 1031?

Once you educate yourself to know the basics you can start talking the "language" you will be coming across as less green. 

The thinking is that even if i dont make any positive cash flow beyond the expenses as long as all the mortgage, HOA and expenses are paid by the rent i am getting that property paid off and getting equity basically at renters costs providing it is never vacant.

AC issues are urgent....but rarely emergency situations.... there is a BIG difference.The "someone could die" is a pretty extreme scenario....... the only people that are truly at risk are the very elderly or young that aren't capable of taking some basic precautionary measures.