i have been debating this due to the sensitive nature of their situation. it seems like you have a solid system set up, i would definitely love to pick your brain more on the topic.

A CPA that has had little or no experience with construction or real estate investing is not likely to provide the best tax advice.You might ask the CPA about the 4 different ways that investors might be taxed for federal purposes depending on the nature of their investing.

What I have a problem with are people who justify taking a grand from someone who can barely scrape up that money, doing so motivated on a bunch of spin and crap from a marketing guru that either makes promises or, because of the nature of their preceived expertise which is often exaggerated and gives them a few ideas that have been around for fourty years in a method that is presented as being new, different or as a secret!

(it doesn't always work this way, and depending on how the contract is written, you may retain some liability for the contract)Once the end-buyer is on the contract, it is between him and the seller to deal with all the closing procedures.

Its frustrating, but its the nature of the best.

There is a procedure for assessing this civil penalty.It is possible for some that they make so little (and have no assets) that the IRS determines that the debt is uncollectible.

Is this normal procedure?

I hardly ever do assignments, but I know a lot of wholesalers that do and they all follow this procedure.

We follow almost exactly the same procedures for our properties.

A good friend who I met through my local REIA mentioned this site, so naturally I followed her advice and have joined!