I'm far from knowing everything, but I've been investing for a while.Cheers,-Sam

@Sam Leon, this is a massive hassle waiting to happen.

-Sam

To make things easier to explain, lets use this example:Purchase price (includes all purchasing expenses) = $150,000Rehab, holding, closing, etc costs = $50,000Total expenses = $200,000Lets say it sells at $250,000 so profit = $50,000I put in $170,000 my partner $30,000We agree to split the profit %in for %out.... so in this case 85/15What I am trying to determine is how does uncle sam account for all the expenses in order to subtract it from the final sales price to get your total profit on which they will charge you capital gains?

Then there are folks like me who profit off these folks but need to find a 1031 exchange (otherwise get hosed by Uncle Sam), so they are in the hunt too.  

Originally posted by @Sam Sendgraff:Hi Tennon!

- Sam

When Rodney Dangerfield was in a class with the professor..who was played by Sam Kinison and they were talking about the war in Vietnam..Rodney started going off when asked a question and at the end of the conversation..Sam Kinison said..and I'm saying to you.."

Originally posted by @Sam Sharata:From what I've heard on Real Deal meetup, Baltimore is a great place to buy rental properties because there are so many section 8 prospects, but not necessarily the ideal city for flipping.

I've heard of one congressman who perenially floats a plan for Uncle Sam to take over everyones' 401K's, sell the assets, and replace w/ govt. bonds paying a relatively low yield.