While nearing the end of the repairs, the more we talked about real estate investing, the more and more Justin, Amber, and I thought that simply partnering together and flipping the property would be much more  advantageous for everybody involved.

However to me wholesaling is simply shopping for discounts.

There needn't be a 'ton' of equity, simply enough to support an appraisal of the asset that allows one to refinance their entire investment out.

In those cases, you’ll simply be hemorrhaging cash.Might make more sense to start with a condo or small house if you’re new to this or if you’re entering a new geographic area!

If they give you more than 30K, they can simply deduct the remaining amount from their lifetime gift exemption.

I think there's a bad habit of folks simply saying "evict, evict, evict" without really having the details of a situation, or fully understanding the painstaking process and fees which can be associated with evictions. 

There many mistakes an investor can make to lose money.The 2nd is a economic contraction causing a lose in value such that the investor cannot continue to hold the asset through the contraction.If your goal is to simply limit risk I would go with passively investing in a syndication.

Now, that being said, if I know they smoke I simply do not rent to them.

Or, simply put it this way, the homeowners are financially much stronger than last around and less sensitive to economic uncertainty. 

Next year, when those improvements can be added into the basis, can I simply add them as a new entity on the depreciation schedule (4562, Part III) with their own 27.5 year schedule?