Your best bet is to do a simple assignment UNLESS your profit is over $20,000.

HOAs are legal, usually not for profit, or, non-profit corporations, incorporated under state law.

I want to do a double-closing on this property since our potential profit will be more than $40,000, correct?

Further, we are assuming you have no down payment (if any of these things are not true, let me know and we will work them in during a future post).In 20 years you will have taken cash profits:$200 per month = $2,400 per year = $48,000you will have paid off the mortgage and now own the property free and clearWho cares what it is worth?

If you have enough equity, you can 1031 into 2 properties, each with a good down payment on them.You have to roll your profits into the next property until you have enough profits (cash) to buy with enough of a down payment that the property can then make it's own expenses.

Usually the owner will default on the loan itself and try to get back on their feet by selling said property to cover all cost and make a profit.

Its a fairly complex setup with both a contribution and a profit sharing component.

If the majority would do things right things would not work out. 20% of investors will make 80% of the profits.

I've been looking through the forum for a bit and I've seen bits and pieces about taxes, but I wanted to know if profits from wholesaling is considered earned income or not.

Tell me what you have in mind and I think I can guide you to make it profitable to use these grants and loans!