Investment Info:

Mobile home note investment investment.

Purchase price: $64,250

Cash invested: $12,000

Sale price: $175,000

We purchased this mortgage note and ended up foreclosing on the proper...

Keep in mind the more you write off the less money you will show as you net.If you have (2) full years and depending on how the accountant files your taxes you will have a schedule C more than likely or another schedule that shows profit and loss.

@Alex Hymanson  you should read the book...Storing Up Profits. 

Its all legal and now you only have to maintain a place for 5 groups. 1) you can get a heavy cash deposit down for the ownership. 2) they pay quarterly for expenses that funds the overhead. 3) everone has a share of profit when you or they decide to sell for a higher price.

If I choose the rental, then all income generated will be taxable income moving forward, because none will be off-set by the interest I could deduct.  

I haven’t made any profit yet and I’m wondering if I should still file taxes for my “business “. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000

Cash invested: $25,000

Bought a house this fall in Minot for $90k. Currently have it rented and plan to ho...

My current brokerage does not help generate any leads or anything like that.

All of the multifamily I have looked at in my area are not profitable due to prices being much higher than rent currently.

When you put that in terms of a percentage of your net profit - that is 40% of your net profit going to the PM.