Through depreciation, other income taxes are offset, through debt paydown and appreciation, he's going to gain $thousands per year in equity.Subjectively, it may appear not to be a deal, but if the buyer understands these factors and wants the property, an entry fee under $10K sounds like a deal. 

Estate taxes.

.- Property receives one set of taxes- Both houses are approximately the same sq ft. (1300)- Two single-family homes, not attached (two different addresses)- Property size 0.45 Acres- Township won't allow subdivision unless each house sits on 0.5 acre lots- Will reside in one house upon purchase, and will rent out the second house- One house currently rented out for $1,400 a month with a one-year lease- Purchase price $260,000Looking for ideas or best ways to finance this type of property!

So, something to think about, the guests will be paying airbnb's taxes/fees etc.  

I believe there are less than 1,000 people in this country who earn more than $100K in profit wholesaling over the last two years, and even that's hard to accurately pinpoint, because most wholesalers, excluding the folks who sell expensive courses, tend to have larger holistic real estate businesses, that include flipping, hold, private lending, turnkey rental sales, construction, and other related businesses. 

What I mean by this is considering how much your down payment returns to your net worth (appreciation, loan paydown, tax benefits, AND rent avoidance).

I agree John, but there are golf cart rentals in just about every Beach Community that is golf cart friendly, and typically those seem to be pretty high earning individuals.

Flipping is a self-employed job with high risk and high transaction costs.By the time taxes and agents are done with you, the juice is rarely worth the squeeze.   

States have different requirements for licensing (and the TYPE of license) based on whether you will be earning a salary or commission.

I am getting ready to move out of the building entirely and would like to disband the condo association and have one tax id for the building as a whole.