Some of them are enticing because they are occupied multi-family forclosures or bank owned sales.One of the transaction details is  "This property is reported to be occupied and buyer is responsible for obtaining possession."

Any investment in improvements would have been capitalized as basis and thus subject to depreciation recapture.It is not an all or nothing transaction however - you can do a partial exchange, but will owe tax on the amounts not reinvested. 

I asked around quite a bit, and the answers I most closely landed on was that if you're licensed and you are trying to wholesale, you must complete the transactions under your broker and disclose to the seller that you will be wholesaling it for a profit.

Such good faith estimate shall be $2,000.00 together with reimbursement for such reasonable expenses as shall be incurred by counsel in consummating this transaction".$2k for legal fees?

I just cant seem how to get my first step taken, I am such a quick and fast learner and any second once I get my first deal done I can take off from there but thats the problem, I was wondering if you guys have any advice for me or have any opportunities for me as I heard sometimes doing a deal with someone can most definitely help you out and get a transaction under your belt to see how its done, I just need one opportunity to prove I actually can do all this at this age.

Tohosa Twofeathers there are brokers (offices) that will charge you an annual fee (around $100) and a fixed low amount per transaction. they don't force you to make calls, or anything else.

But, based on blog posts and info products from Seth Williams, there's another piece: He said most states have a "supporting documentation" form (the name is not consistent) that tells the city or town the property is associated with that the transaction has occurred, and it essentially allows them to adjust who the tax bill will go to.

Most brokers shouldn't have a problem with it, just don't expect to be closing 50+ transactions a year part-time unless you're putting serious effort into it.

I'm not a huge fan of it philosophically (I believe it encourages waste - you only have to see open windows in the middle of winter to figure out which ones have owner-paid heating), but tenants love it, it makes it much easier to fill units, and if you invest the money in a high-efficiency, on-demand system it can actually work out OK money-wise.

@Sergio Deleon:  one of the Lenders my condo buyers have successfully closed many condo transaction with finances non-warrantable condos and does require a condo questionnaire, but on non-warrantable condo program it is almost a mere formality since thry really don't care what the questionnaire says for the most part.