I'll make sure to check out those podcasts tonight and continue to gain ideas before putting money into any DM regiment. 

Since I started learning about Real Estate I thought that being a licensee would be the only way I could sell to gain some capital.

I did read some of the previous posts regarding this opportunity but still welcome any comments, help and advice I can gain from the experienced REIs here.

The foreclosure path is the most expensive path and you can put a lot of weight on that one, i.e., if a foreclosure exit doesn't work, then the deal should not be done. 

Maybe look into some long term gains with buy and hold investments.  

Make some money as while You gain experience.

Don't worry about getting paid [of course if they offer to pay, take it] but more on gaining knowledge - this is your pay.Get out there at least 2-3 time per month for after hours meetings - REIA and meetups, etc.  

If I start an LLC is it considered business income or a capital gain?

I gained a substantial amount of equity by rehabbing the property while still having positive monthly cash flow even with the 10 year note.

Netting 20K after closing costs and capital gain taxesb) Owner finance (Contract for Deed): 137K sale price,  20K down, 15 yrs, 9%, $1200 a month.