Which situation below would most like trigger an audit from the IRS?

With no experience, you will also want to take caution there.Lastly, do NOT use your retirement account to fund your son as he is a disqualified party to the plan.If an actual partnership is going to take place and your son finds the deal, then you can simly create a 50% split structure and go from there.

How can a wholesaler create an appeal for a Real Estate agent to work with them for finding lists of preforeclosures, foreclosure hotspots in the area, regulations, cash transactions?

I just gotta pull the trigger quicker...

You say you have a "partner", so your partnership arrangement should cover who profits at what percentage, as well who takes losses and who supplies capital (funding) and labor; everything should be given some value.If you need funding from hard money or private lenders, thenn you will need to use a financing contingency.

I agree, set an arrangement with him if you can't get around the partnership issue.

It will be a fix and flip or wholesale.We have not pulled the trigger on this yet, and are wondering if we should wait and try and get this property for even less at auction.

I paint at about a 45 degree angle to the trim length and always make sure the gun is in motion before pulling the trigger.

Get a domestic partnership with a trusted friend.

I have seen and lent to many real estate purchase partnerships that were financially profitable, but the partners had a horrible experience dealing with each other.