Additionally, if anyone wants to chime in on the finer points of converting owner/occupant to rental, VA home loans, and incorporating, etc.

We are looking forward to your super conference & gain additional knowledge to build our Investing business.

An additional 390 certificates over the 2011 auction.Also noticed that the 2010 auction had 221 people/entities that won certificates.

These are the key factors you need to be sucessful in the model you propose.In addition, simultaneous closings (where you use your end buyer's funds to close your purchase transaction - using buyer C to close the A-B transaction) are very difficult at best these days due to the many law changes and the title companies not insuring the transactions or willing to perform such transaction.

Cheryl, it is true that an investor will know the market and of course they will pull their own comps, but as a rehabber, I would not like it too much if someone was trying to wholesale a property to me and when I asked for some additional comps they informed me that I could pull them myself.

Extra money for extra people is your call, but I think you also risk additional problems just because of more people in close proximity.Just my .02

My thought is that with an LOC I would have additional borrowing capacity to jump on cash deals if needed, as well as float some of my current renovation projects between construction loan draws.They offered me a $140k interest only LOC, 2 year term, 5.75% interest.

Properties must be "like kind" in the eyes of the IRS, if you are asking can you have additional financing with the proceeds of your equity.....absolutely!

So I pencil very little additional value for the lots, which I hold until new home values increase and construction financing loosens.

I would approach the deal with one additional assumption:The current tenant buyer will NOT be your end buyer.