I thought I would have heard about this if that was true.

This perspective goes beyond merely buying and selling properties; it involves a strategic approach to wealth building and risk management.

What would be the best way moving forward with this applicant since one does not fully meet our minimum requirements?

"Used this company (resrents) as an owner, at first they treat you like royalty until you truly sign up with them to rent your property.

Also, even though this is a negative cashflow it's basically what my rent would be.

However, that won't work for several reasons:  1) The lender is not going to finance the $15k assignment fee2) The lender isn't going to consider the purchase price in this example to be $150k, they would typically use the $135k price in the original contract, and 3) In this particular example they may not even use the $135k price because it's not an arms-length transaction since it ultimately boils down to a deal between you and your father.I applaud you for trying to be creative, but ultimately what you're proposing isn't going to work and it's going to make the transaction a lot more complicated than it needs to be.

in 12-18 months and do this again with larger multifamily.Details below.   

Imagine making millions of dollars throughout your career and then having to pay Uncle Sam 30-50% every year instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of the best ways to end up with a much larger net worth at the end of your career.

This is very common as people had disposable income in the past due to covid and govt handouts.

was curious if anyone has any opinions about the potential for this location.