I live in Charlotte NC and I'm new to the concept of Wholesaling Real Estate. 

You should take a look at some plans so you have a rough idea of what you're looking for when you sit down with a builder, this will save you time when you do your consultation, also the City will want to see what you're planning even if it's just a concept.

After debt consolidation, however, there will be insufficient remaining equity to take additional cash out.Bret, I like your concept of flipping to yourself.

 $83             /Vac%Rep   $165     ==---------------------Total        $1625Rent         $1650 => Cash Flow = $25 (I even think this would be taxable, but I omitted that)1st yr:ROI: $7731 (Principal paid+cash flow)/$50k (down payment and omitted closing)= 15.462%ROE: is the same as ROI in the first year as the down payment and equity should be the same in my opinion (unless you take into account the under market value at which you bought, the appreciation for 1 yr and don't omit closing costs, but it still doesn't change the concept; I omitted all of these things for simplicity).2nd yearROI: $7997/$50k = 15.994%ROE: $7997/($7731(1st yr)+$7997(2nd yr)+$50k (down))= 12.167%7th yearROI: $9466/$50k = 18.932%ROE: $9466/$107913 = 8.772%12th yearROI: $11216/$50k = 22.4332%ROE: $11216/$162468 = 6.903%16th year (1 yr after mortgage paid in full)ROI: ($12660-$4304 due in income tax)/$50k = 16.712%ROE: ($12660-$4304 due in income tax)/$200k = 4.178%As per my example you can see that, once you are close to paying the mortgage off, your ROE is significantly lower than it was before.

I would rather give friends and family a 10% rate than a complete stranger.I've been thinking about private money to help finance more acquisitions and like the concept of preferred equity arrangements.

The history and concepts haven't changed, but there have been some major industry-wide changes since then.

The markets seem quite different between the US and Canada, but I guess the underlying concepts of real estate investing are much the same. 

Being completely new to the concept, I am trying to absorb every bit of information, tips and tricks I can get my hands on.

Account Closed That is an interesting concept.

@Tom Olson  while I agree in concept.. the average investor starting out will have a severe learning curve to go through to get to the point that you can sit in your barcolounger and your rehab will run perfectly and profitably... have been a HML for over 3 decades in the space..