On your tax return you would report the proceeds, subtract costs and proceeds paid to seller, then the remaining profit would be your flat fee.

It's infinitely harder and much more costly to scale a construction crew than it is to find people interested in buying a good deal (that you'll provide happily).

I paid it off within the year, so it cost me no interest. 

But in reality, holding on too tightly limits growth, causes burnout, and actually costs you money.Why Letting Go Helps Your Bottom Line✅ Frees Up Your Time – Instead of handling every single tenant issue, you can focus on strategy, acquisitions, and big-picture decisions.✅ Allows Specialists to Do Their Jobs – A leasing agent will lease faster than an investor juggling 10 different tasks.

Cost vs.

If you haven't already, read "The Book on Estimating Rehab Costs" by J.

Give your state's 'cure' term ("In New Jersey, a tenant has three business days to pay rent and court costs after a judgment of possession is issued to avoid eviction.

@Drake BackmanBigger Pockets is a great place to find a tax strategist specializing in real estate taxation.A good real estate tax strategist can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding a tax  strategist specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your tax strategist remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year.

It's probably best to have them pay out of pocket for a smaller cost like this.

We've learned a ton, but at a significant cost.