If yes, you will have to cover monthly expenses such as mortgage payments, insurance, utilities, HOA fees, etc.  

So get this even though my  personal LLC is a licensed Developer with insurance and bond.. the home I bought and was working on in Salem in another of my 14 LLC's did not have the specific license even though I am the owner of that LLC and managing member that is licensed.. the actual LLC needs the license /  or you can skip that and be a GC.

Hi Jason,Based on the difference between rent and mortgage payment ( I am assuming it includes taxes and insurance), there is very little cash flow for maintenance, vacancy, and all other expenses while renting (50% rule),  I will sale now that El Paso is a seller's market for properties under $120k.Good luck,Jaime

However, always protect yourself with sufficient insurance coverage and good contracts if you're operating as a general partnership/joint venture.

The contract says the seller pays for the title insurance.3) Please let me know if you think I am overlooking anything else important here...Thanks!

Your insurance that you carry with an umbrella would be good enough.  

my broker rep said he would even have to look at the E&O insurance in terms of wholesaling.

Two things I notice on insurance. 1.

Best bet is VA loan f you have that, fha or 5 percent conventional.You’ll need the downpayment plus 4-5k in closing costs depending on taxes and insurance

For one agreed upon price, the builder will buy the land, prepare the land, build the house, insure the project themselves, and then once finished, turn the house over to me once I've paid off the balance.The question for anyone out there with some experience doing this in MN, which builders offer the best value and are the most reliable?