Relative newbie in investing outside of California so any guidance would be appreciated.Thanks everyone!

I'm just in need of some guidance Please

Since he’s an investor he also will purchase the deal I find “ if it’s good” I’m intrigued because he’ll be my personal mentor providing the step by step process to correctly wholesale, lease option and seller financing, and guidance is all I've been looking for.In life I soon realized in order to learn something or anything you need to learn it from someone hence my family business I learned from my father, and that’s what I've been looking for in real estate someone to teach me without having to pay upfront cost but reality is that’s not the case for most gurus even if it cost me giving up the profits of my first 5 deals I just want to WORK!!!!!!!

I'd love to have an experienced investor in my area willing to give me some guidance!

The bank accepted my bid and I am now under contact.Very excited to get this going and to keep learning from the rest of you and hopefully be able to provide valuable feedback on my experiences.

Remember, your time is valuable and needs to be spent where it will be most effective.

@Nathalie Hirsch There are certain 'safe harbors' and guidance from the IRS in connection with vacation home rentals.The IRS will not challenge whether a dwelling unit qualifies as §1031 exchange property held for productive use in a trade or business or for investment if: (1) the relinquished property is owned by the taxpayer for at least 24 months immediately prior to the exchange and a replacement property is owned for at least 24 months immediately after the exchange (the “qualifying use period”) and (2) within each of the two 12 month periods constituting the qualifying use period, the taxpayer must: (a) Rent the property to another person or persons at a fair rental for 14 or more days; and(b) The taxpayer’s personal use of the dwelling unit cannot exceed the greater of 14 days or 10 percent of the number of days during the 12 month period the dwelling unit is rented at a fair rental.

GOOD AND VALUABLE CONSIDERATION: I have received good and valuable consideration in signing The Agreement, and I acknowledge both the receipt and the sufficiency of the consideration. ________ 4.

It is much "smarter" to sub out all of the contracting so that you can "concentrate" on "finding and doing more deals" because "your time is more valuable" blah blah blah... and 2.

It seems like it could have amazing value if fixed properly and is in a nice area where other homes are currently being fixed and built.Any input or guidance on how I can turn this discovery into something meaningful I would be glad to hear it.