Therefore you effectively have no debt at all.

By the way, in the event you make offers on REo or short sale properties, you will not be able to "assign" them due to the no assignment clause placed in teh seller addendums so you will need to use any one of a number of creative means to circumvent that stipulation.Some are: Vest offer in the name of a newly formed entity and sell your entity to your buyerVest offer in the name of a trust and sell the beneficial interest in the trust over to your buyerUse a transactional funder to fund your entire deal, then with a second escrow (double closing) sell to your new buyerJV with your wholesale buyer and vest the contracts in both your names.

If someone sells the same property to two different people, (effectively what's going on here), the first one to record their deed wins.

However interest rates are so low and as I am toying with 15 year mortgages a big chunk of my mortgage payments would be paying down principal from the start, and it seems like this should play some effect when considering returns.

How does he 86 tax law effect you?

Even saying you have an experienced property manager only adds limited credibility, as PM's have to be effectively managed, and many fail or fall into mismanagement themselves.

Joel, Sec 8 tenants can make up a difference over the entitlement to market rates but it can not exceed a third of their income.And Joel is correct in that FMR can be adjusted and less can be allocated for your property, but you can also opt out of Sec 8 before such rate changes take effect as they will be paid to the end of the lease term.

I self manage, and I factor in this cost when I purchase using the 2%/50% rule anyway, so the only effect it would have would be that I would not be paying down RE debt as quickly as I am now.

Do you have a trusted association, one who's totally unrelated to this transaction, who can go check out this area and the property?

We will typically pay, you know if it’s a transaction we bring from fruition to close.