I’m a new investor interested in building a wholesaling business with the ultimate goal of acquiring enough rental properties to be able to live entirely on passive income one day and just enjoy life.

@Jordan Williamson While an indirect transaction, yes it would be a prohibited transaction because you would ultimately benefit from the IRA transaction in a roundabout way.

Speaking generally, but I only look at 3/4 unit buildings (duplexes don't make sense), and in the grand scheme of things total number of legal bedrooms is the most important metric as that's ultimately what drives rent roll given that the majority of renters, at least in the gentrifying areas that I target, tend to be recent grads who are sharing an apartment and want to live in the "hot" part of town but can't afford Manhattan proper. 

Get the Best DealNever be in a hurry when it comes to purchasing property of your choice.

If you look at how fast apartment rents are rising relative to what mobile home parks offer for their pricing, I believe it is an easy choice.  

Two major choices- I am still trying to figure out which would be more profitable, but need help figuring out the numbers on option 2. well, on option 1, as well, but that will be a separate post!

Once delivery and acceptance occur and the document is recorded, it's just a record keeping item in your safe or file cabinet (or wherever important papers are kept).If you're trying to engineer a deal whereby you profit from a difference in price between your seller and ultimate buyer then you need to make certain it has the components of marketable title. 

I highly suggest that you take a look at - The Ultimate Beginner’s Guide to Real Estate WholesalingSee you around!

I ran the numbers about 6 or more different ways and ultimately in my best case situation came out with 1600 cash flow.  

"There are two primary choices in life: to accept conditions as they exist, or accept the responsibility for changing them."