Hence I will probably pay a good chunk of change to uncle Sam when I file my 2024 taxes.

@Roger D Jones So true on your last point, thanks!

So, out came Uncle Sam who started shooting N02 straight into those turbines to keep going.

If you'd do 10 of these deals a month, fixed cost is 1k, leaving you $1,000 and a third of that goes to Uncle Sam, so net profit is $700.

And my landlord threatened a countersuit as well...my uncle lawyer told me it was nothing but a scare tactic, and any reasonable judge would throw something like that out without question. 

Good old Uncle Sam.For most folks in the US, taxes are anywhere from 30-50% of their gross income every year.To protect yourself, you should do 2 key things.1.

@Terra Rogers Since Dave isn't responding, I can say that the minimum FICO is 700, and they have no flexibility on their minimums or ratios.

Back in NY I shadowed the construction on 2 houses my uncle bought from foreclosure and needed rehab which were then sold for profit. 

Once approved, it shouldn't matter if their rent is paid by them, their wealthy uncle, an employer, an insurance company, or their sugar daddy.

An opportunity fell on my lap, I have purchased a multifamily unit from my uncle on a seller finance deal and plan to BRRRR it and keep it long term.