Any information you can share will be gratefully received and I'd love for people to contact me and share what you can.An enormous thank you for all the sharing, support and enthusiasm you're all offering. 

If you 1099 the money, they have to pay taxes on it ... so it will be a good litmus test for you to see how your contractor(s) react.Also, it may not be the worst idea to create a business entity of some kind ... eventually, it could make your taxes a little easier to manage (so you don't have to do one enormously scary tax return)Edit: try to find a CPA that is familiar with REI, that will make questions like this easy to answer in the future.

Judging by the responses, there seems to be an enormous level of support and camaraderie here!

---Buy and Hold, these would cut into your cash-flow.One late payment and your promotional rate could end.If you don't  pay the balance owed within the timeframe you face enormous rates (15-25%)I've never gotten into trouble. 

Matt,I know you are an enormous fan of UCLA Anderson's forecast, but taste some other Kool-Aid out there too!

I envy your background in kitchen and bathroom design and am sure it will be of enormous value in your ventures.

I see tons of properties that would benefit enormously from a second floor but am worried about the permitting and timing involved.  

I have no knowledge of real estate investing and BP has been an enormous help to me. 

So here it goes :)Our interest for our next deal is leaning toward an Equestrian Estate.Beautiful and enormous!

I have an enormous passion for entrepreneurship, making money on my own, investing, which is why I decided to join the BP Forums.