Danielle Danielle,You are required to pay yourself a salary if you are taking money out of the business other than paying back amounts you have loaned.Even if you are a partnership you still have to allocate funds to wage like payments called "Guaranteed Payments" Those are subject to SE Tax.  

Not speaking of the home's condition per se, but instead the neighborhood in which the property resides.I am in Indianapolis, and am looking at purchasing a property that has had tenants for two years for a cash price of $15,000.

Lastnights first SE Michigan BP turnout was amazing. 30+ people showed up.

Seemed like SE Wyoming was a better option than going into the war zones in Denver to get cash flow.

That means it will also be subject to SE tax.

@Ben Cochran if your house is in SE Wyoming I can ask some attorneys I personally know and work with for a good divorce attorney reference.

I found a duplex in SE portland with a good rental history at 850 per month per unit, with each unit being 2 bed 1 bath.

@Dawn Anastasi -its cool to se that you're continuing to build your little empire, good luck on this one as well.I have to chuckle at all of you from FLA, GA, etc doing double takes on the property taxes in WI, welcome to WI-property tax HELL!!!

There was a severe flood that came through the SE Michigan area, like state emergency flood!

Asking price: 183kMaximum Offer: 160k, although i'd love to get it for closer to 140kLocation: SE PortlandDuplex with both units having 2 beds and 1 bathGross Month Income: 1700Anticipated Monthly Profit: $500Repairs: No major repairs to best of my knowledge, maybe a grand or two in general repairJust to give you a comparison, desirable areas in Portland can have 2 beds going for 900 and up, so the 850 per month units are close to market value, maybe a little under.