Louis.The next step was performing market research.

More than one-half of the personal services you perform during the year in all trades or businesses are performed in real property trades or businesses in which you materially participate.

For that price of $400-600k, you could buy 4-6 properties out-of-state easily that would all cash flow and you'd then have the tax benefits and security of 4-6 doors versus dumping all your money into a low- to non-performing property and hoping nothing goes wrong with it.

@Joshua Nudell   not going to buy performing NOTEs for pennies on the dollar.. and the notes flucate with the rebound in the economy..

Most guys will start you off with a little then give you more as you perform and they compare your return and security to their other investments.  

But E&O only covers the agent, performing agent duties, for errors.  

Does it require accredited investors to invest in your re-performing notes?

I need an excel spreadsheet to track where the money is going, when and how much. as well as what task is being performed, started and finished...Thanks

They're probably in distress to be calling you, so you playing games with their finances like that can do some real damage if you don't perform under the terms of your contract.Btw, I have to agree that wholesaling is simply brokering without a license the way it's being taught in some places...lots of people with no education trying to flip with no money, no experience, no knowledge out there muddying the waters.We all gotta start somewhere I guess, but man they've distorted what wholesaling is to sell books and courses IMO.

Another item to consider: if your contractor can't afford gas to come do a bid, he may lack liquidity and cash to perform his services without coming to you with his hand out.