Esther L.I am also a new to this world so I will share with you what I am doing to get myself educated: 1) Go pro – No I don’t work for BP, but you get the tools you absolutely need to be successful as a pro member hands down. 2) Listen to every single BP pod cast.

You must take risks, but, ensure that they are calculated risks.Below are some links to get you started. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meethttps://www.biggerpockets.com/alertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/rules https://www.biggerpockets.com/termshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/perkshttps://www.biggerpockets.com/forums/categorieshttps://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

Ok, now that you have taken your initial step, below are some quick links to get engaged.Congratulations on your acquisition and welcome to the world of landlording.Below, are some links to review while waiting for feedback on insurance quote.https://www.biggerpockets.com/renewsblog/2013/01/27/tenant-screening/ (Landlord/tenant screening)https://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/ (how to rent your house)https://www.biggerpockets.com/rei/pay-rent-online-payment-tools/ (Online rent payment)http://www.biggerpockets.com/renewsblog/2012/12/09/how-to-be-a-landlord/ (How to be a landlord)https://www.fanniemae.com/content/tool/landlord-guidance.pdf (Fannie Mae landlord guidance) http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meethttps://www.biggerpockets.com/alertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/termshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/perkshttps://www.biggerpockets.com/forums/categorieshttps://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)REI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REI)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

Regardless which way you intend to go, it's not absolutely necessary to get started in investing or wholesaling.

That makes a lot of sense put into that perspective, it doesn't leave the original owner out in the cold and absolutely screwed if the buyer decides to drop the ball.

If it comes to fruition that he indeed is involved with MLM Amway, then I agree he is absolute scum.

But if you are intending to use it for investment purposes then it would absolutely qualify.Yes, you can do a "partial" exchange.  

The sale is going to leave me with nearly 6 figures that i'd like to reinvest (probably in Durham because the Raleigh market seems very high) but I have ABSOLUTELY NO experience on getting a home below market value.  

@Drew Shirley, Is it absolutely required to hire an attorney to open an LLC or is it possible to DIY ?

@John ArmandoWelcome to BP.I am also a new to this world so I will share with you what I am doing to get myself educated: 1)Go pro – No I don’t work for BP, but you get the tools you absolutely need to be successful as a pro member hands down. 2)Listen to every single BP pod cast.