Just keep thorough records of your expenses—materials, labor, permits, etc.

You want to delegate all the mundane tasks to others and focus on doing tasks that only you can do.While you are calculating the costs of all the raw materials, you also have to calculate your salary into the total cost of writing your own handwritten letters.

Purchase price: $575,000 Cash invested: $218,750 Sale price: $775,000 This was a tough one.

Hi @Greg Scott,I’ve been questioning that too, I know they’re in a tough financial spot right now so it’s entirely possible they don’t.

I live in Clermont and depending on where you are looking $200 will be pretty tough to find at all.

To qualify, taxpayers must meet specific criteria demonstrating that they are real estate professionals who materially participate in their rental activities.How to Navigate the Rules:Step 1: Identify your real property trades or businessesHere is a list of activities that are considered to be a real property trade or business:RedevelopmentLeasingConversionConstructionReal property developmentReconstructionOperationRentalBrokerageManagementAcquisitionIf you participate in multiple of these activities, you may be able to combine them making it easier to meet the material participation hour requirements.Step 2: Demonstrate material participation in real property trades or businessesThere are seven tests to determine if you demonstrate material participation.

Wholesaling in NJ is very tough, good luck!

Quote from @Nicholas Nocella: Wholesaling is a tough gig.

Hey Keonhee -  Austin can tough market for cash flow, but areas between Austin and San Antonio or up toward Dallas might be worth looking into.

In turn, this makes me a big fan of HELCOs, but still, that initial investment is going to be a tough one.