Before you sell your house my prescription is 408 bigger pockets podcast and 10 non fiction books.

Are you writing up your own contracts/having them written up thru a lawyer for wholesaling?

With that being said, there was still liquidity in the market place with your traditional private lending companies still writing loans.  

Depending on how much you write off personally this may or may not be that big of deal. 2.

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff.6.

It negatively cash flowed for 13 years because we couldn't sell it without having to write a check to the bank at closing.

It negatively cash flowed for 13 years because we couldn't sell it without having to write a check to the bank at closing.

If you are unsure about the investor paying you then yes write up some type of formal agreement.

This is a great way to insert yourself into a deal, using something like an FHA loan, and drop your housing costs to zero, or preferably have your primary dwelling pay you.There are lenders out there writing conventional loans with 5% down, so the FHA is not the only way to get a low down payment.

I own investment property that I rent out and take my write-offs, but I just use my CPA to do the paperwork/return.