In 2012, marginal tax rates for <$70K income were 15% (married filing jointly).

Own a car lot or a pizza joint after all if you need cashflow sometimes a small business can be a nice place for cashflow.

You'd be better off finding a good short sale investor and partnering with them as a joint venture.

Framing, drywall joints, ect, all contribute to non uniformity.

The deed is worded as follows:John Doe hereby grants to:XYZ and 123, his wife as joint tenants as to an undivided 1/2 interest and ABC and 345, his wife, as joint tenants to to an undivided 1/2 interest in the following described property.That's the language of the old deed before ABC & 345 formed an LLC with their daughter.

After that, I transfer an amount to my joint checking for household bills.

They might have money but still trash the place or live in an unsanitary manner.FYI there's no credit scoring in many of these developing countries, and anyway the notion of "individual" credit often doesn't exist in these places, at least for the masses-families hold joint bank accounts, one person in a large city remits money to relatives in rural area.

John Thedford,Consider a joint venture with the other person in which the 401k provides the cash and they do everything else.

Fred, The way you have described your participation appears to be one of a Joint Venture where you and the rehabber are sharing in the risk.

., in a real property trade or business) if:1) more than one-half of the personal services you provided during the year were performed in a real property trade or business in which you materially participated; AND2) the number of hours in which you materially participated in this real property trade or business was more than 750 hours; AND3) you must materially participate in each rental real estate activity unless you filed an election to group all rental real estate activities as one (and materially participate in that activity).A "real property trade or business" means any real property development, redevelopment, construction, reconstruction, acquisition, conversion, or rental operation, management, leasing, or brokerage trade or business.Personal services performed as an employee are not treated as being performed in a real property trade or business unless you are a more than 5% owner of the trade or business.For joint return purposes, the eligibility requirements are considered met if either you or your spouse separately satisfy the requirements.