However now I learn that I have to exchange my personal check (earnest money) for a bank check before they can submit the paperwork.

The "fluffy" positive thinking can be used to ease people into exploring real estate investing, but all to often in recent years the former has abandoned the reality of bad things happening and has been molded into a prepackaged sales pitch that encourages people to embrace laziness in exchange for a credit card swipe.

One important item is the currency exchange and transfer fees.

hey guys, I've never held a property that long..........when it comes to the recapture of depreciation, it is avoidable when a 1031 exchange is involved?

,although I sell alot of reo's its cuz I have the buyers,I have been working on asset mgr.for columbus and surronding,from being all over state,I wonder how some of these people were chosen.Seems that will change,which is good,these will be called reassignments.hope to exchange ideas,with this group,and keep me posted.

Can you use a 1031 exchange when wholesaling properties?

I'm trying to get them to buy it for a profit the day they move into....in another topic I mentioned what I do and how I'm 'pro-active' to actually sell the house to the T/B............typically they have less then perfect credit so I require they enroll into a credit improvement program...Major does include.......major plumbing(underground pipes) roof, A/C and major electrical(fuse block exchange)............I do 2 thingsT/B pays for the monthly extended warranty company I use.T/B pays for the 1st $500 of 'major' repairs....after that T/B pays 50/50 of remaining cost of 'major' repairs.I hardly ever get a call simply b/c they know I'm not their landlord........they are 'buying' the house from.......and they are further understood of the requirements of who pays for what.........Trust me, you don't get 2am broken toilet calls when they understand its their house/their problem

And, do you really want to freeload on your parents, or would you help them out in exchange for a place to stay, either now or later?

In my opinion, no matter how you slice it, giving a central cartel of bankers the ability to expand and contract a fiat money supply, complemented by a fractional reserve banking system... well, based on world history, there is zero probability of our currency surviving.

In turn after 1-2yrs that same property can now be used in a 1031 Tax free exchange.