I helped a client, @Martin Yung, buy this home in Raleigh, NC back on November 19, 2015, managed a light rehab, and got it rented.  

Just be aware that some sellers may call you out on this, and other wholesalers that are competing against you for the deal may bring this to light with the seller.You should be able to find buyers for your deals at local REIA groups, right here on BP, or by finding real estate investment groups in your area on Facebook.

@Ronald PerichThe following IRS link also sheds light on the solo 401k plan. https://www.irs.gov/Retirement-Plans/One-Participant-401%28k%29-Plans

Thank you so much for sharing your trials and tribulations and shedding light on to the NYC house buying process.

The bank can end the game without warning; at any time it can say, "Game Over!"

They left...and they took the front doors, light fixtures, and other items with them at the cost of about $20,000.The point is, not everything in life ends up on a credit report.

He is a real micromanager, insisting on the final ok even for smaller details like light fixtures and tile. 

Definitely depends on your particular market, some are too hott to wait for this (although that is usually another warning sign about high prices). 

A light finish upgrade to a property would need less contingency than a complete gut project.Profit Profit is typically calculated as a % of the ARV, but you can calculate your profit based upon the COCR or Annualized ROI.% of ARV Profit Calculation = 15% profit * $200,000 = $30,000

Please shead some light on this simple but complicated subject for me.