Many years ago after I had two different agents snake deals out from under me I took the class to see if what they did was legal.

The bad egg has a 505 credit score with almost $130K in debt between student loans, car, and credit card debt.

Sounds like the purchaser may need to bring in an equity partner to bridge the gap.Anything other than first position debt is extremely expensive.

That was an above average cost turnover Upsides: I have thousands in appreciation already, debt paydown, cash flow, IRR greater then 20 percent.

Then the lender has to make sure you have enough income to cover the debt, which is the issue you’ll come into since it’s inconsistent 

Debt up to his eye balls?

I do have some concerns over the legality of wholesaling after reading several posts; people are very passionate about that answer, no matter how different their views may be!

First the bad news: In order to form an LLC and sign US legal documents, you'll need to be at least 18 years old.

Last thing I would want is to have a law suit on our hands @Aaron Klatt Thats a really good idea, however, would this be legal in most states?

If you want to rent it out right away you would get 75% LTV and a higher rate.When you go to buy the second property, you may be able to buy a fixer upper with all cash and then refinance that one after you fix it up.This is pretty much what I did (minus inheriting the property) and I have 11 rental units now.One thing to be aware of is your debt to income ratio in order to qualify for mortgages.