Did that once, and well, no more. 

The question is, would you think it would be worth it to save money up for a trailer that shouldn't cost no more than $6500 to rent out to someone, or am I better off putting it elsewhere?

@Dan CournoyerAll of the expenses that you listed, including allocated tax prep fees, portion of the phone bill, travel etc. are equally deductible with or without a partnership LLC.You cannot arbitrarily shift partnership income between husband and wife, no more than you can without an LLC.Good thinking, but you do not gain any tax advantage, other than lower IRS audit profile.

Once they have spent all their money (I believe you can have no more than $2,500 in your bank account), Medicaid kicks in.

gj=co2&rv=co2&_xtd=gatlbWFpbF9jbGlja9oAJDgxNWRhNzJhLTM4NjUtNGQwNi04YzRkLWVmZWEwODI0MTg1NQReal Estate Lawyer - there’s a team and Shelley Himes, Senior Law Clerk can direct you to the appropriate contact.They do mobile signing via iPad and it’s amazing - no more going to a lawyer’s office unless you want to!

No more verbal verifications, no more lies. f they have a prior eviction(s), or their income is too low to support pay the rent, then sorry, their application will be declined.

No more dimming, no more problems.

Unless I'm missing something, I need to find deals where the all-in cost is no more than 68% of the ARV just to break even or turn a profit, correct? 

Using my normal calculations, my max offer, with $30k in rehab, would be no more than $400k.

If I am passive, does that mean I can deduct $25,000 worth of deductions towards my income and no more?