New in Real Estate investing need a little help.

[Shane Brown]

Hi everyone,

I am from Vermont I make pretty good money for my age, 22 and making 19 a hour with little to no bills. I found a house foreclosed for 50k, I have a few ideas on this. I would like to change my tax form at work for the 2 and a half months I can do max over time so I don't get any taxes taken out. Work 12 hours days six days a week get as money saved as I can, hopefully pay off half of the house cash finance the other. Being a 3br 2 bath in the city it should rent (hopefully) for at least 1200 a month. May take 10-15 in TLC but my brother is a carpenter other is a electrictian and close friend a plumber. So hopefully cheaper to fix that. Does anyone know if what kind of tax breaks come from buy a house? If I should set up a LLC in my name for this? Rent for the long run here or selling a better bet?

Hope to hear some good responses,

Thanks guys!