@Joshua Lee WegnerThere are 2 ways that people do wholesaling.1st method - They assign the contract to the ultimate owner.You are simply collecting a fee from the buyer in exchange for the contract.You will never own the property using this method and as a result shouldn't have to pay any closing costs.2nd method - double closing which is you will purchase the property from the owner/seller and then you will sell the property to the ultimate buyer.You will pay for closing costs(title work, transfer fees/taxes, etc)You will likely net less income using the second method which is why a lot of wholesalers prefer the 1st method.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

Maybe pay for a second opinion. 

Either way- If the properties are already sold and gone there's a little more limitation on what can be done strategically- but I always recommend getting a second opinion especially if you feel like your CA isn't creative when it comes to real estate. 

I second the request above.

On that second closing, you pay back the transactional funding and whatever is left over is your PROFIT. :-)

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

I will be short and precise here.so as a new or aspiring REInvestor1. should i live in my first house and pay mortgage say for a year and refinance after that and get my second property and rent it out?

The heloc is simply a second mortgage that gets paid off in the sale and affects how much cash you have for reinvestment. 

Data-analysis software analyzes comparable home sales and other factors to determine a valuation in seconds.