Your fix up costs up to 6 months prior to conversion are (I believe) can be considered fixup capitalization or expense depending on what you did.

What capital have you invested?

Obviously it would be very capital-intensive, and risky.

This is exactly what I did when I was starting out, simply because I was so tight on cash in those days and needed to conserve capital at every opportunity.If you do decide to perform your own title search, just be sure that you're getting a Warranty Deed from your seller, and that you're issuing a Quit Claim Deed when you sell the property to your buyer.

Greenpoint is no longer around but from what we could determine their records are currently with Capital One.

Once I learn the ropes a bit and build up some capital, I'm interested in buying and rehabbing historical homes to sell or rent.

(You can put more of your capital to work at these historically low rates.)Your call.

I'll add that if they had a bad tenant that trashed a unit, that unit could have been a long vacancy, with a high repair bill on top of that - this gets quite expensive, and if this owner was not adequately capitalized ...

I think wholesaling is a good way to get more experience and build up some capital though!

This creates a great passive stream of "mailbox money", and spreads out the capital gains tax over time.