However, the correct accounting is that the tenant owes you $500 for the month, but the new tenant is covering $300, leaving the old tenant only owing $200 to make up their full obligation.

I would not go as far as to say that flipping, rehabbing, etc is not investing, but Tracey makes some very valid points and I agree.Buy and hold is the single most reason of wealth creation and when done correctly. can provide not only the net worth aspect, but a passive income stream for life whereas flipping and the like require an onging effort to retain an income stream.I think it is the very best way to start, although I also agree one should do a few "flips" (which can be a wholesale deal, sell a contract, rehab project, etc.) to gain some capital for buy and hold acquisitions and reserve accounts.

And if what I heard on the news is correct, small business is the lifeblood of America.

I would buy with cash and refi in a year for 75% of appraised value from a local bank assuming you cashflow correctly.

Its one thing to solve problems - it works for al parties involved - its another to hustle someone under the disguise of false help.In a way - its just a matter of working things correctly.

I have a property under contract, and another wholesaler came to me and let me know that they have a buyer for the property and want me to sign an option contract.So basically I am double assigning the contract correct?

The balance is around 1.9 million. and the loan is assumable To my understanding a TRUE subject two does not require ME to put any money down, but actually he could pay me or simply walk away from the loan correct.

What steps should I be taking to make sure I have all of the legal and clerical things done correctly in order to make the deal happen.

Thank you Jen,So you are saying to not add in a "first right of refusal clause", instead I should just release it, correct?

If I understand you both correctly, it sounds like the best for me now is to rent it for at least a year or so, then possibly sell the third year.