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.  

Any attempt at a prescriptive time line is simply not true as a rule. 

You win some and lose some.

Win, win, win!

In a jurisdiction where you can set policies to preclude having your unit approved by the welfare office it is a no brainer to simply avoid renting to S8.