We simply write “mere change of identity” and file the document.  

That being said, its probably not a basket you want to put all your eggs in but if something comes up that you know is a deal and you know you have a buyer then I say go for it, everyone wins.

If you are unsure of your plan that is fine, part of your goal could be to create a winning plan. 

You are already doing better than the majority of people out there simply by being on here and researching.The key is to take action. 

I'm simply wanting to get into the industry.

You'll win some and you'll lose some, and you'll grow.

Originally posted by @Chris Seveney:@An LamI always send someone and what I tell them is the truth, I typically send people by when we buy distressed mortgages and have them say we are a lender inspecting the propertymy Daddy taught me that real estate was belly to belly.. of course this was pre internet pre fax and we were still using carbon paper which I am sure half of BP does not know what that is.but if the folks are there that's a win.. 

What's the condition of the chinking--and has it succeed in keeping moisture out of the house or simply channeled moisture onto the logs? 

Assuming it’s legit and I get the terms I want it sounds like a win to me.

If I can make it work, it would save me a substantial amount of taxes.I would then plan on taking those funds (profit from the flip) and either (a) investing it in other self directed eligible assets (RE, LLC interests, etc.) or (b) transferring it back to a traditional brokerage firm and to simply invest it in equities.