Since he is not "selling" his tax implications are minimal.  

I want to make sure I'm structuring the business effectively for tax purposes.New Wholesale Business:located in GA (LLCs are easy)2 person partnershipassignments and/or double closings only (no flips/holds)I have other business interests so I will be high tax regardless.majority owner of S-corp for IT consultingW2 for my "reasonable salary" plus shareholder distributionsLLCs (and trusts, etc) pass through for owning rentalsLLC pass through for rental property managementLLC pass through for note holdingThis wholesale partnership will be the sole source of income for my partner.My primary concern is whether separate business entities prevent my rentals from becoming "inventory" when the partnership gets treated as a dealer.It seems a basic S-corp is the way to go with regard to earned income to minimize SE tax.  

Since 2007 I've been trying to come up with my own funds to start this industry, but between the recession and loosing employment I haven't been able to.I've found several properties for sale in my own area where renovations are minimal and profits could be between $15k and $40k low and high $80k.

Ease of maintenance is why I like townhouses that are fee simple with minimal HOAs.  

However, I have been researching lease options and it seems to be a way to get involved in real estate without borrowing and without laying out alot for a down payment, while still bringing in some cash.I wanted to know if anyone on here has had any experience in lease options, positive or negative, and how easily or hard it is to get the right houses with minimal risk- especially in vegas, as Id like to invest locally.Any advice at all would help a lot!!!

However, I have been researching lease options and it seems to be a way to get involved in real estate without borrowing and without laying out alot for a down payment, while still bringing in some cash.I wanted to know if anyone on here has had any experience in lease options, positive or negative, and how easily or hard it is to get the right houses with minimal risk- especially in vegas, as Id like to invest locally.Any advice at all would help a lot!!!

I am sure iFunding or whatever portal you use will tend to want to minimize draws to minimize overhead and paperwork if possible.

In the event the auction does not give way to a bid equal to or exceeding the Mortgagee's minimal bid, then title will be issued from the county to the Mortgagee upon the expiration of any post sale redemption period, if any.  

The original investors would take a bigger hit than necessary with limited buyers...or does he have an acquisitions team and buys the properties to resell at cost or minimal markup...covered by the 30k bus tour?

I am in the process of preparing and Im quite sure that there are gonna be few things that I will miss to look out for or ask initally so Im hoping turning to you my fellow BP'ers for advice will minimize that.