You have to find a way to make everyone come out happy all while doing it leagally and ethically.

The pros are:- It lends some credibility (for whatever that is worth)- You do learn what is legal, ethical and accepted practice in the area (but you can depend on an agent partner for that)- Access to MLS, so that you can be the 20th offer and get outbid 99 out of 100 times.  

I'm a naturally handy hard working guy who is looking to put my mind and work ethic to better use after my 9 to 5 job, which don't get me wrong is a pretty great job. 

A simple examination of the National Association of Realtors® Code of Ethics Article 4 outlines specifically how agents are to conduct themselves (if they are Realtors® that is) if acting on their own behalf.  

But I guess money can make people forget things like ethics or rules haha.

Because of a bed bug issue (all tenants left, whole building needed heat treatment, I was pretty heated myself...)- And many more...I am not necessarily richer than before I invested in RE but I'd say my life is somewhat richer...I am never bored.Please send me a message if like me, your parents are source of inspiration and if your love for real estate does not get tarnished by your "love" for bed bugs and dealing with ignorant lenders...

But as for tax treatment you might try Don McCartney Arlington who has done RE deals himself for like 30 years, and he is also a CPA for about 25yrs. 

At this late stage I normally stay mum until afterward, then have the work done (or a year's weed/fertilizer treatments via TrueGreen) and assess the charges against the deposit.Startup photos and careful photo-documentation afterward are crucial, as well as the need to use professionals for the fix.

But like anything is hard work getting there and you need some sales skills and big time work ethic.. starting in RE is 7 days a week unless you get on the commercial side the its only 6

Like Ch13, your lien may or may not have treatment under the plan.