I am a father to 2 beautiful daughters and am happily engaged to a wonderful woman (mother of 2 herself) and we are expecting our first, a girl.

@Jonna Weber this will be challenging. =)

We wrote the seller a letter about the appraisal challenges (bank not lending above appraisal, and that other buyers would have the same hangups) and they accepted our offer at appraisal price of 170K.  

There is no clear test as to how many house flipping transactions you must engage in a given year in order to trigger the UBIT tax.

Then it just challenges people to find better deals! 

What are your biggest challenges in having Short Term or Vacation Rentals? 

The challenge is to always be replacing a new flip with one that gets sold. 

Each business opportunity/ decision the Partnership/ L.L.C. could engage in must be voted on and passed by a majority vote (unless it is something that would require a unanimous agreement).

The changes are all designed to protect the consumer, the buyer and the seller in each real estate transaction.And while everyone generally agrees that consumer protection is crucial, some of the changes may prove to be challenging, both to real estate professionals and to the consumers they serve.Before getting into the specifics, here are two basic reasons the new RESPA requirements may become challenging: 1) the need for more specific consumer disclosures, and 2) the need for those disclosures to be presented to the consumer in final form 3 days prior to closing.Conceptually, specific disclosures, as well as strict timelines for completion by professionals and presentation to consumers, both sound like excellent ideas.

You will get incredible knowledge on how to research, identify, build your team and learn each area's specific challenges - for example cracked slabs in San Diego, Foundation issues in Texas, Termites in Atlanta, etc.As far as wholesaling, the quick answer is to pay a local wholesaler to bring you a cash buyer.