Im thinking I can market this up to 140k if im understanding the concept of wholesaling correctly.

@Jaysen MedhurstJaysen,Again thanks for reply I think probably what I recognize more than anything is trying to understand how to relate the general concepts on here to an individuals investment strategy.

Hello all,I am a young professional single no kid and I have not been able to sleep since I discovered BiggerPockets and the concept of house hacking !

Wonderful open floor concept.

I will connect with you and perhaps we can help each other through this process since we are both approaching it with the same concept.

@Andrew Earle I think we'll be able to give you a ton of value here but because it sounds like you are in a bit of a time crunch, instead of learning and mastering a new concept this fast, I would find someone in the area or a recommendation for immediate guidance and support.

So any referrals for attorneys would be greatly appreciated.I apologize in advance for any forum related transgressions ... still learning the protocols here.BestPramod Hey Pramod,I want to cover a few concepts at the end of my post - but I will start with general answers to your questions.

Yes, it should be simpler, but it is not.At least for the first time, I recommend you get professional advice on which is which.

@Christina MahesseThere's an old concept in tax called "risk of loss".I'm assuming this SFH/vacation house won't be rented out to simplify the explanation...Generally you would have to examine who is on the title and who is named on the loan.If it's one person, then generally speaking that one person can claim interest/taxes, etc to the extent allowed by statute. 

We are closing short sales under this same concept, which I came up with a few years ago. :)