This bill recently passed the Assembly floor by a vote of 71-2. 

From a business model standpoint, the IRS sees no difference between buying a property and fixing it up and selling it and buying bread, lunch meat and mayo and assembling sandwiches and selling them.Exact same business model, exact same taxation structure.

replacing the valve assembly is not required, and if you do, you will have to cut sheetrock under the plastic box as this is how they are connected from factory.

The BOTTOM LINE to all of this is to not let the seller or their attorney hold the earnest money.When I did commercial land development and we assembled parcels the hard money put down was substantial over several tracks and in the millions total.The developer I worked for told me he learned over decades to never let the seller or their attorney hold the earnest money.

I plan to spend the next few months doing research, crunching numbers for a few hundred deals, networking in local meetups, and assembling my team while I learn the best neighborhoods to invest in.

I wrote a book about my experience as real estate investor and how I recruited a team to 1) launch a business in a new country and 2) assemble a partnership to develop new build sites.

-Contact Realtors, Brokers and Auction houses and ask to be put on their mailing list.( I already have one)-Assemble my team, starting out ill prob just have a realtor, and find a good affordable lawyer.accountant( the last two might have to wait after the first deal)-Find a deal and run analysis-Find financing and not give up.Also for us with little to no capital it is possible to do deals withs no money down just goto the success stories section but i wouldnt limit myself to that.

It's quite a group they've assembled here :o)

Learn which makes sense for your situation.Work on a business plan because in that process, you'll find out what you don't know (selection criteria, insurance, assembling a team, property management, marketing strategies, etc), then you can seek out that specific knowledge.I'm happy to help in any way I can.

Hi everyone,Hitting the reset button in life, looking to build up a portfolio of investment properties for me and my beautiful bride so we can eventually have enough passive income to retire.Have a bit of our own capital / time / energy to invest, along with good credit, so instead of paying high for our own place, we're getting into investing first to increase our monthly cash flow.Will also be partnering with family to do out of state, (for us, not them) deals as well, maybe starting in the Dallas / Ft Worth area.My brother in law has the financial edge, me, in construction trades for over 30 years.Together we want to assemble a few properties, then slowly build on that momentum to insure a better quality of life for both our families, ultimately controlling a decent sized portfolio.Interested in mostly SFR's and multi-units, and not afraid to board a plane to check a deal or get out the tools and perform some sweat equity.So, if you have some info to share, please do.