He may also be able to see some tax relief if he does an installment sale (kind of like an owner carry of the note, but slightly different).  

Oh and I learned what a "put" and a "call" were in regareds to investing in the stock market.I have purchased, rehabbed, and currently seeking tenants on one home and  have made an offer on another.I have learned so much from the podcasts and videos and just plain stalking the forums it is amazing!

Sorry for my Ranting I just don't get the " Instant Gratification " part that many are seeking .

I was wondering when the right time to start investing in real estate would be...and what amount of capital should I seek to invest in real estate, starting out as young entrepreneur? 

Seeking loan amount for approx. $200k. 

But I can promise you this, if on a deal by deal basis you seek to maximize instead of thinking, "what is a wholesale fee?"

A RE attorney that deals with contracts as opposed to landlord/tenant matters should suffice.I use the NWMLS PSA, crossing out and initialing 'Not' in the assignable clause.My assignment agreement is simple and advises the buyer to seek legal advice, as it is my form.  

@Robert Sepulveda: There it is, the answer I was seeking.

MaryIt depends on the relationship you are looking for.....partners/mentors/buyers/sellers......what are you seeking to find?

Pretend you are seeking them out as an advisor foe a "new and young investor that just wants to be sure you do things by the books and you see the city as a teammate".