@Darren GregoryYour friend refers to a very old (and long dead) rule, which is why it's best not to ask friends for legal, tax or medical advice :)There are only two ways to control capital gain taxes on selling your own home, and they can be combined.

Yes legally, you still have to report the value rec’d.

I’v been approved for a sweet private funding here in my local area of Las Vegas and I’m ready to invest !

I’v been approved for a sweet private funding here in my local area of Las Vegas and I’m ready to invest !

The biggest downside overall was dealing with the park owner who had to approve the buyer before I could sell my house.My advice - if you think it through and create a system that will work for you, pretty much any business can succeed.

@Frank Sanchez Check if any of the paperwork you signed ( approval letter, arms length affidavit, affidavits ( these are from the servicing company ) had a restriction or if there is one on the deed.

Why are people pushing the double closings if there are legal and accounting concerns from attorneys and title companies; and if that is the case why can't the wholesaler person attend the one closing between the seller and buyer she put together the way a typical real estate agent would. 

I know I can set an LLC, S Corp, C Corp, Sole Proprietor or whatever with Legal Zoom.

How can I do this legally in NJ?

I thought this didn't sound right - is that legal in Ohio?