It's becoming nationally known, so hosts who manage their properties correctly are still seeing wonderful revenue numbers!

I want to make sure I do this correctly from a tax standpoint since all I'm making is a flat fee.

In a busier place, you might just be told to find a GC to "un-cluster' what you did.For me, when this happened, I had to go and hire a certified plumber, and electrician, and framer to come in and certify that all the work my handyman did was correct - and to fix the issues that weren't correct.  

If you aren't going to set up the LLC correctly, for asset protection structuring, you might as well buy it in your personal name.

>I have heard wholesaling is tough but despite having less volume it has larger spreads in San DiegoI have never wholesaled but I suspect you have both items correct. 

Collin is correct - take your time and go slow. 

You should be fine with the correct insurance.

Asking in the correct forum will get a better response.Read the RULES!

A bookkeeper can also work hand-in-hand with your CPA to ensure everything is recorded correctly, making tax time much smoother.My personal belief is to get referrals for CPA recommendations—word of mouth is often the best way to find someone solid.

@Pranita Maldikar From your report, it appears you're looking to put $119k down on this property, is that correct?