They are technically non-profits, which is why they can offer better rates.

Don't worry, I completely understand that any advice given on here is simply that, advice and not something that should be taken word for word, and yes we will be getting a hold of a lawyer and CPA to help us with all of this.

Next to a busy street, with a lot of traffic, the land is a Zoning LAR1 - will I be allowed to place a billboard to profit from advertising? 

having a difficult time using both the brrrr and fix and flip calculator because i intend to live in the property for 1 year so not a rehab. these calculators seem to assume i won't live in the property. based on the factors below, i'm hoping someone can poke holes.arv=270krepair=my father who is a general contractor is overestimating at 35k (it's definitely livable, but there's opportunity to upgrade/update such as the roof, floors, cabinets). i'd live there for a year and plan to either flip or rent after the year.annual expected property tax=$7.5klisted price is around $235k ($/sq ft is below comp average)comps within the past year for similar properties around $260-$280kpreferred profit (not too sure about this) but $20k is a target...i guess.estimated rental based on recent is $1.8-1.85k/monthi was thinking about offering $210k max, but the calculators recommended an estimated purchase offer between $160-$175k, which seems extremely low given the livable condition.what am i calculating wrong here? 

If their agent is OK with waiting the seller can simply pay the sale commission when you exercise your option.

If you have more deals than you can possibly buy, or enough to keep you money busy, then it makes sense to take the big profit and roll into the next two deals. 

You could then use the profits from this sale as a downpayment on a property that would cash flow better.If you want to keep the property then I would refinance the mortgage and put it both of your names.

But these properties can be profitable and if you keep the properties up you will be able to secure better and better tenants over time.

Would your co-worker be happy with the idea of you (immediately) wholesaling the property for a profit, when he could just have it listed for full market value in the first place?

Alright So I’m looking to buy soon ( hopefully 1-3 months from this post.)I’m in no rush at all, just a personal goal to find a deal in that time frame and go for it.I’ve been looking a lot into Dallas ( I live in California ) but i keep going back in forth simply because I havnt  found a good deal as of yet.