If you have netted your income and losses and end up with a net positive passive income, then the net is taxable as ordinary income.  

I've seen countless FB discussions where some people (usually always young white people ironically) stirring this pot by saying things like how a black family simply cannot buy a home outside of the traditionally African American areas and especially places like Waukesha county, which is complete rubbish and I've seen first hand examples, not a whole lot but some, where it has worked out just fine.

I've had to pull a pot plant out of the front yard, etc, etc.  

I enjoy a big breakfast, pot of coffee, a little workout, and then I get on the computer and get organized to start my day and check for any new listings or e mails.  

That way, he'll get a lot more up front.If you don't have the credit or reserves to go to a bank, you could either negotiate the down-payment lower by sweetening the pot some other way, or get an investor to front you the remainder or the money you need (get a loan from them, make them an equity partner, etc.)

If it were me, I'd buy the note with contract of sale for no out of pocket cash to noteholder and push all possible risks onto them, using my skills to foreclose, clear title, capitalize, repair and prepaid for retail resale.To sweeten pot, offer listing to him if he's halfway competent agent (have my doubts). 

I know better than to think you're going to do this type of work and not put some of your own money in the pot.

It is such a melting pot and I can't tell you how many people I have met here who have moved here from other states, cities, and countries etc.  

to create jobs and impressive hotel development projects.I feel more like a Concierge : ) service because it takes so much handholding to help people new to the USA to get a soc sec #, find a place to live here, turn on power, water, internet, set up a bank  account, get furniture, dishes, pots and pans! 

Almost immediately the upstairs tenants began complaining of a "strong pot smell" coming from the lower unit.