Just a quickie related to my previous post.Are there any benefits to having a formal offer in writing, even if the seller verbally told the realtor our intended bid was unacceptable?

You have not formally agreed to pay the note.

Inexpierenced auctioneers or real estate agents that are not formally trained do not reflect the results a veteran real estate auctioneer can produce.I sell commercial and residential properties as long as they qualify.

and i founded a Corporation to handle our other business, i've written a formal business plan - 14 pages long - not an easy task, and i've taken on one key investor/business partner.not in ONE MILLION YEARS did i ever think i could do all this.

Noobdog, your post all makes sense to me but as someone who is too new at this stage to consider setting up a formal business entity, here is how I *believe* my tax situation breaks down at the moment:o If I can write off enough depreciation, mortgage interest, maintenance, etc. to offset my rental income, I break even on my taxes because I'm a passive investor with a strong AGI so no loss allowed on my taxes.o If I don't have enough expenses to offset my rent, I end up paying taxes on my rental income.I'd be happy to hear if I don't understand correctly but I've read the tax code over and over and seem to always come up with the same answer.

I never asked anybody to mentor me and I have never been in a formal mentorship, BUT I had several people who I would call my mentors.

I have always worked in professional type positions - banking, consulting, selling - and dress relatively formally.

What information and formalities are required for buying renting and selling property?

But I got a call from the BBB the other day because people were inquiring there about me, and it got me to thinking maybe I should have something more formal than a trade name registered at town hall.

He was just asking to formalize it.