We showed the bank that any buyer would be upside down in the property after paying to get the house into livable condition.With our detailed list of repairs and remodeling costs we were able to convince the bank to let us buy the property for about $65,000.Our comps analysis of similar nearby properties in top condition showed an After Repair Value of $131,500.Short Sales and Bank Owned Properties (also known as REO's) can also be wholesaled once under contract but there are special tricks to these strategies because of bank involvement.

The trick of course would be to try to convert as many utilities as possible to tenant paid as they will go down if the tenant is paying for them, that I guarantee. 

If you go the Pro Desk at Home Depot or Lowes and place a large order (generally $2,000 or more) they can provide savings of 5 to 10%.Another trick is to go to the Post Office and ask for a 'Moving Packet' which generally has 10% off coupons at Lowes.I've also found deals on Amazon for door hardware & fixtures.

This is way before you start then figuring out how much of that is eligible for the 199A exclusion.Also, if you look at the instructions for the 3115, you'll note the following at the bottom:Time Per Response Recordkeeping ............... 60 hours, 1 minute Learning ................... 16 hours, 25 minutes Preparing .................. 20 hours Sending ................... 32 minutesWhile the IRS frequently overestimates the amount of time a mostly organized taxpayer takes to put together these forms, I think the above is actually not a horrible estimate for this particular form. 

How frequently you will mail to them.4.

Looking for recommendations on successful real estate agents that frequently work with real estate investors, particularly ones who know how to help those with their first purchase!

Pretty common.I would imagine that others that don't do this is because of it being a pain to move frequently.

They actively try to trick landlords, property managers and agents into saying something that they can claim is discriminatory - and then they hit you with crippling fines.Learn those protected classes and NEVER ask a question having to do with any of them and you'll be fine.

If you have any tips or tricks for me I'd love to hear them!

Evaluate as many deals as you can would be my advice as you frequently hear on bp podcasts etc.