There are some ways to structure your entities so that some of the income is distributed as dividends rather than personal income.Flipping houses is much the same as having a shoe store, and subject to roughly the same taxes.

I don't mean underwriting, for which we all have built pro forma spreadsheets; I'm talking about shoe boxes of loose papers type of stuff...And investors are fine and dandy with that...  

Put yourself in their shoes.

The assignee, it has been often said, is placed ‘in the shoes’ of the assignor.Illinois law recognizes the distinction between the assignment of a right and the delegation of a duty and recognizes that an assignment can involve merely the transfer of a right.

Much like you took a shower, hit the bathroom, got dressed and tied our shoes this morning - you just do it and move on.

Yet I see them with a $1000 cell phone or shoes more than that.

Here is a list of good an bad from tenants perspective:Bad:People walk through my home, don't take shoes off and track dirt and mud on my carpet.

Eventually the shoe will drop regardless of how carful you are.

The landlord was probably first time being landlord, they were really very uptight about keeping the house clean, where we put the shoes, how much we cook, how many time we do the laundry, at the beginning (well, after the contract has already been signed, otherwise I would have changed my mind when I hear this) they even ask if they can make a schedule of my cooking time like what day what time I cook, I guess they wanted to make sure everybody in the house can use the kitchen, but the hell??

Shoe box or QBs?