he can grow his play money or earn passive income of $1000 monthly on that capital.Partnering can be a great option, but again, I will warn that the wrong partner and it becomes a poor idea so be careful in who you choose.

However he chose to ignore my warnings and it appears those warnings are coming to fruition. 

(Warning, over simplification coming!)

I've been warned that doing too many buy/sell transactions may cause the IRS to designate me as a "real estate dealer," and force me to pay self-employment tax of 15.3% of the first $72,600 of income.

One thing I am going to warn you about is a REALTOR® is a sales person.

I don't know how you'd go about doing it, but I think in fairness you ought to warn them about it first.

BiggerPockets has partnered with RentingYourHome.com to offer an even greater number of free forms for landlords.Free Landlord Forms, Leases, Addendums, Agreements, etc.Including: * Rental Application * Blank Rental Agreement (Lease) * 4 Warning Signs of High Risk Tenants * Declaration of Service Notice * Lease Addendum * Lease Addendum Pets * Tenant Screening Policy And more!

Before you warn me of the pitfalls of investing with friends, please know that we have thought carefully about this and understand what we are possibly walking into.That being said, here is the situation: there are four parties involved, and together, have about $300,000 for a down payment.

Contractortalk.com is a helpful site, I warn you if you ask questions they will most likely not respond so kindly.

Please be warned that you are on the road to losing all of your money (or at the least getting a low rate of return) if you get started right now without learning a lot more.