CSLB | QUALIFYING EXPERIENCE CSLB | ACCEPTABLE SUPPORTING EXPERIENCE DOCUMENTATIONI'm a second generation GC with almost 30 years of experience in the area so let me know if you have any questions, Jerry.

Reading about actual humans in this thread, accepting and justifying negative cash flow as a mechanism to invest in real estate, tells me everything I need to know about the current state of the rental real estate market.It's almost as if every single podcast full of veteran investors for decades, all of those golden rules of thumb/pearls of wisdom/rules to mitigate risk, are tossed out the window all for the sake of chasing a yield.I feel like I need to take a shower after reading this nonsense.

Accepts 12 or 24 months of personal or business bank statements.

I know in my state, we have to accept cash payments.

I responded to her FSBO ad and made my offer which she happily accepted: a 36 month lease option; I'll bring her mortgage current, (1 month, $800), and continue making the monthly payments; option to purchase price of $88K, (my estimate of value, $100K); and I had the right to buy, sell, sublet, or assign the property at any time during the 36 months.

I'm trying to determine if the solution is to make Operator an (s) corp or if that still unequally benefits the single owner because I'll have to pay myself an acceptable wage. 

Then they'll accept their down payment coming from a 1031 account. 

You see, there’s nothing worse for an attorney taking on a contingency case, fronting all the legal expenses and investing their time to win a case and obtain a court judgment – then NOT be able to collect on the judgment.So, astute attorneys will research the available assets and insurance before accepting a case on contingency.

Attorney’s were not allowed to accept contingent fees, attorney’s were prohibited from advertising, attorney’s were prohibited from pursuing and filing frivolous lawsuits, and lawsuits were limited by strict rules of Civil Procedures.

While a personal account is acceptable, setting up a separate account specifically for rental income can make bookkeeping and tax reporting easier.Regardless of the payment method, always provide tenants with receipts for their rent payments.Keep detailed records of all rental income and expenses for tax purposes.Consider implementing a consistent rent collection policy to avoid confusion and ensure timely payments.Be aware of local laws and regulations regarding rental properties and rent collection in your area.