Move to St Johns if you can afford it,especially Durbin Crossing/Nocatee.I live there.Your kids will thank you.I loved Ponte Vedra Beach as well but it appeared even more expensive than St Johns in general at the time.But absolutely do most of your investing 30 minute north in Riverside/St Marco/Murray Hill.

A buyer who has ready cash and can prove it eliminates most of the uncertainty in the transaction.

I'm planning to put somewhere between 30,000-40,000 per deal and let the HML fund the rest of the transaction. 

Before Doing any you can't undo w/o $$$, make sure the facilitator, custodian, (Pensco, Broad, Equity Trust, etc...) or whatever they call themselves can do the transaction.

I would bet the OP was expecting for the transaction to be under the table, all cash, no taxes, no insurance, no W9, no reporting -- which is not that uncommon in LA.

Once you cross the threshold of 5 units or more, then it is considered commercial property and you will most likely have to get a commercial loan for it, so more like 25-30% down.

If that's the case, then when a contract is signed, your attorney or title company would submit the contract info here to be recorded for public/government record keeping,  essentially making the transaction legal and binding in the eyes of Uncle Sam.I could totally be wrong, as I'm not familiar with NYC RE, but if I were a betting man I'd say this is probably pretty close.

@Mark Brogan  issue you have in many markets is you have to hire abstractors to do title reports and the closing attorneys don't want to get stuck with the bill.. when the wholesaler realizes the property can't close and flakes out on the Attorney and won't pay.but yes I think its a good value add if that is your SOP's I certainly would if I was relying on these transactions for my lively hood ... but wholesaler is just the wild west.. no license required full of wanna bee's and newbies that come and go in a few months time.. wasting their time and others.. we all know this.. its not a business.its a stepping stone for most..

If anyone could explain transactional funding a little better step by step I'd appreciate it?

@Andy Cross I have DEFINITELY listened to the podcast which is so great.