I'm new to Bigger Pockets too and would love to gain some insight.

It still amazes me how I can get professional and valuable advice in minutes.

They have been extremely valuable in providing us insight into the neighborhoods, the hotter markets, the type and materials of rehabs that are selling; as well as knowledge in the requirements of the flip needed for the buyers to qualify.

If you pick the right person you could get a lot of very valuable knowledge from such a deal.Good luck!

I forget the specifics, but it says you can't sell the house for more than a 25% gain in less than about 4 months... or something like that.

So the lesson learned here is to find a bank that is knowledgable in loans and has worked with short sales and foreclosures or you could waste valuable time.

Now, keep in mind that if you go this route, then all of the gains and profits from the deal must go back into your retirement account (sheltered from taxes) and you are not allowed to do any work on the property yourself.

Therefore, the enterprise, which in the case of our sample is the homeowner of the free and clear home, has a present obligation (the payments of taxes, insurance, utilities) arising from past events (the purchase of the property) who is gaining an economic benefit (place to live) resulting from the outflow of resources (cash paid out) from the enterprise (homeowner),So while I agree the homeowner is gaining a benefit and also has equity in the home, the property itself remains a liability until that home is sold or somehow produces income in excess of the expenses.

We aren't sure how to gain a mentor.. but I know that I can't get anything without asking.

One of the main ones being equity gains (which don't matter as much for B+H people, but it is nice to show to investors/banks once you get big enough).