So I feel that Flipping/Wholesaling is the direction I want to go, using hard money loans and eventually leading us to purchase a multifamily unit in New York using an FHA loan so that I can live there and continue working in a firm, while living in a property with a positive cashflow.

Although, many on this site report positive outcomes.I could use a word of wisdom on how one proceeds with this venture without making predictable mistakes.I would greatly appreciate feedback on the proposed deal:Sale Price $980,00Price Per Unit $35,00Price Per Foot $41.26CAP Rate 7.1%GRM 4.86xBuilding Size 23,750 SFLot Size 43,124 s.f.Year Built 1969City Desoto TXGross Scheduled Income $201,424Other Income 703Total Scheduled Income 202,127Vacancy Cost (28,610)Gross Income 173,517Operating Expenses (103,682)Net Operating Income $69,836

as far as End Buyers are concerned, how do I best secure my position with out having this person go right to my buyers directly.The wholesaler states that the bank is not allowing him to provide all the details about the properties until PFO & LOI are received (hence question#2) and with the amount of properties that he has at the moment for me to help him with, and REO's can't be assigned, how do I structure my agreement with buyers to secure my fee?

All the income I produced during that year plus my normal salary was set aside so I would be comfortable when I finally made the switch.

#3 You could also talk with a few neighbors and get their honest feedback as to positives vs. negatives in living there. #4 I think a local realtor could also effectively weigh in on the value of the property as it relates to the school (ie resale value after flip or down the road).All the best!

Verify all you want.I know your question was a mailing question however I just want to encourage you to find multiple methods of reaching people who will respond positively if you simply find a way to add to their lives.

Large plexes won't give you a positive rating or a negative rating.

If you had made plans prior to today to allow them to move in sooner why not, it does start the relationship off on a positive note.

I started off by going to a 3-day summit on real estate investment, and while I was not prepared to fork over my last year's salary, I learned a wealth of information and am very happy that I went.

Since I am using HML they will have a 1st position lien on the property, so can I secure the $30k with just a personal guarantee?