I hear a lot of wholesalers using assignment on their deals and it seems to be the most profitable route.

The rent does not cover the mortgage, not even close, so subject to isn’t in question.Without much equity I’m assuming I should not pursue and tread lightly w/o further damaging the position the landlord is in?

Our desire is not just to generate profit; we want to provide beautiful homes to first-time homebuyers and help improve the aesthetics of the community.My background: I grew up in La Grange (where my parents still live), but I have spent the last decade away from the Bluegrass State (and bourbon country) while serving as an Army officer.

I've never pursued wholesaling, but with properties on the MLS at higher price points, I am interested in working with more wholesalers. 

A Profit Loss statement is nice, but I'd like to get more detailed.

If you buy a property for $7K does the cost of repairs it needs make it worth doing, meaning: can a neighborhood where properties go for $7K also have comps to support the value for a finished house that's priced at an amount that makes you any profit?

If you think you'll make a good profit from the deal, maybe ask other wholesalers in your market to provide the 2k and then you guys split the profit.

My main questions are around how to structure entities, taxes, profit handling, and overall process.Thanks!

His fear is that anyone I would be dealing with would be such lowly people that they would do too much damage for me to make a profit, or won't pay rent, or that I won't be able to actually keep it rented and will end up in foreclosure.

Ultimately a $27,000 tax delinquency was discovered as a result of pursuing this.