@Jim Tannehill, I have been looking at St Louis and Indianapolis, I like to work with bigger markets.

@Jim Kennedy you can file an extension on filing 1099s???

@Jim Tannehill Thanks for reaching out! 

@Mindy Jensen Jim is correct.

Jim Brewer, I understand the outskirts will be my best bet.

@Jim Witten,On your next one, set up the entity first as, say, some unique LLC name, close the acquisition, then rename the LLC.

Brandon Hall, Amanda Han, @Jim Kennedy and any other real estate CPA's out there who would like to chime in.I had always done my taxes myself with TurboTax.

Chase,I would suggest taking a hour or two to read Brandon Turner's book "The Book on Investing in Real Estate with No (and Low) Money Down"http://get.biggerpockets.com/nomoneydown/That is probably the best place to start.After that, think about a wholesale deal, keeping a couple of the better ones for yourself, or just setting aside the cash for another purchase.Good luck,Jim

Jim Keller do you have a track record, if so, there's your difference and one of many competitive advantages.No track record, no skin in the game, likely no rich savvy investors either.

Jim