@Apollos HallWow, what a dream come true to have $800,000 to invest.Personally I would use half of the funds to purchase a run down multifamily complex in a B class area that has quiet a few vacancies.Use some of the remaining funds to rehab the vacant units and once rehab is complete get them tenanted increasing the occupancy to 90%+.Potentially look at selling to or just holding for cash-flow would also be an option.Just my 2 cents heheThanks and all the best.

Assuming rents will increase in all areas isn't really true if there are alternative choices for tenants.

Is this true, does anyone have a direct link to where I can read these laws?

There is a difference between a true hardship you can document and just not liking having to pay 500 a month and being upside down but financially you can do it.

Seriously however, I second @Eric Black and would recommend shopping around.

Unless you are dealing with true cash buyers who have plenty of it you need to ensure that the deals will fit the financing criteria.

Sounds to good to be true!

Thanks Ali (and i'm very wary of making something look too good to be true)...have already reached out to listing agent to get utilities, water, sewer, etc. and have researched taxes on the town treasury website.

@J Scott : this is so true indeed.

Of course, this defeats the general purpose of "wholesaling" with no money...Either way, with your new license, you can technically open your own shop.