He suspended the cost reduction in MIP that the HUD put forward a few weeks ago.

Get enough cash flow to cover mortgage, average expected capital expenditures (which should be less with an excellent turnkey provider who does the rehab), and average tenant turnover with its associated expenses (which again should on average be less with a turnkey operator who does excellent tenant screening in an area where tenants tend to stay put (better schools etc).In the long run, this seems to be my key to maintaining the income I am earning without a 40% reduction by the government and build equity wealth which can be converted to greater cash flow when I decide to stop working 24 hours a day and enjoy my children without dragging them to every locums assignment and telling them to stay out of the camera when dealing with a telestroke.As you may know from my previous posts and this forum, I have looked into Memphis Invest based on forum members' recommendations and think they have the philosophy and the reputation based on feedback that meets my needs.

A few things to keep in mind in addition to reducing your monthly output is that you'll have a nice tax write off, and you'll be gaining equity through principal reduction and long term appreciation.

In South Carolina, where I buy, you can get an automatic 25% reduction on your assessed value if you ask for it.  

(spending $10k in interest that nets you a $3500 tax reduction is the crummiest investment around) Send me $10k and I'll send you back $3500 anytime!

It may be best to find out more regarding the process with the contractor and also you would want to know how effective it is. what should you expect, in regards to sound reduction rating.

Just don't expect any sort of wonderfully large reduction in your tax bill, you may get a bump down somewhat, but guess what, a LOT of properties are in the same boat and one way or another, the city has to pay its bills and though they make a valiant effort handing out parking tickets (and raise quite a bit that way as well) property taxes are still the main source and for every idea that pops up to cut spending, we have 100 or maybe 1000 more to increase it.

why not just buy the house,it only costs about 500-700 dollars to close then do what you want with the propertyI see wholesalers in my area often market houses they don't own to sellI just get address of the house and contact the owner when the wholesaler can't sell The sellers are always angry when the wholesaler can't find a buyer,it is always because the wholesaler tells them we are going to buy your house with cash and then they just use clauses to get out of the contract I understand wholesaling well enough since I have done it a few times,i have saw first hand what happens when you go back to the seller to get a price reduction your Buyer's won't pay what you have it under contract for If you are in this business to help people solve their problems with this house Just buy it then resell No problem

That is very unlike homeowners to take that serious of a price reduction.

The true wholesalers who bring value (actual real deals) to buyers certainly are worth their weight.