The MLS price is not attracting any offers, so they go back to auction with a lower reserve price attempting to unload a stale, non-performing loan. 

What contingency does a wholesale use in their offerWhat happens if the wholesale does not re-sell or assign their contract, is the seller mad, disappointed, ready to file for specific performance law suit? 

They have no way of knowing how long it will take them to sell their home and be able to perform on your contract.  

No doubt that KC is really a great investment right now - but compared to other markets and especially the coast - year over year the market is consistent which is great especially if you are rehabbing to rent!

However don't think they just "happen" and are reported like your primary residence exclusion.  1031 exchanges must be performed for you by a qualified intermediary and put in place prior to the sale of your old property.  

When you sell the home, most buyers perform inspections and so work has to be done right.

Be patient and consistent.  

Chris Mason, the primary adviser for a client's decision to put all their assets into an LLC is their attorney, not their CPA, and if my client, based on recommendations from his or her attorney, decides to structure his or her business in a certain way, I'm going to prepare their tax returns consistently with the tax code and in such a way that reflects the legal reality of their situation, not what a lender or any other service provider wants me to do.That being said, I think it would be wise for attorneys to understand the tax as well as lending ramifications of structuring a client's business in a certain way and should definitely connect with their client's CPA and lender before making recommendations.

You can also consistently "house-hack" by buying a duplex, triplex, or fourplex, live in it for a year.

Need some help analyzing.Property Valuation = 66kNote's Unpaid Balance = 25.2kNote Sellers price = 21.6k (standard 85% of UPB)Sellers claims note "performing", but has unpaid taxes of 8.5kLoan maturity in 5 months with balloon of 25.2k paymentChances are this will foreclose!