This is how most operate.Most operate as sole proprietors until they have completed deals since most of the income is subject to self employment tax as it is from person services.

IF they do not cure then you can begin eviction proceedings on the breaches.For non-payment of rent a 5 day notice is served.If your business entity is anything other than a sole proprietor, you must use an attorney in the eviction.

However, I have a very specific question regarding allowable contributions to the Solo 401k.If I have a side business (outside of my regular day job) as a sole proprietor, do I need to limit my contributions to my Solo 401k to the income or profit from my business?

(sole proprietor)Is the below correct?

Hi all -- I am looking for some feedback on Conventional financing vs Commercial financing.If you purchase a property in cash, renovate + do a cash out refinance -- do you typically do the refinance into an LLC/commercial 25 year amortized loan or place the property on a conventional loan and change the name from sole proprietor to an LLC on the title to limit your liability?

If you file as a sole proprietor, than you will want to give yourself a pay schedule(biweekly, weekly, etc).

Sole proprietors with no staff usually won't commit to this, nor should they.Ask if they have their own supplies or need you to provide themAsk if they'd be willing to pick up supplies occasionally and drop them off at the property when you're short on something.

A single member LLC, partnership, or sole proprietor company must be sent 1099s according to the IRS. 

When the LLC promoters talk about asset protect, they usually set the scenario where your LLC is sued and your personally owned assets are shielded from exposure by the "asset protection" afforded by the LLC.What they don't tell you is that when you self manage your own properties, either as the manager of a single member LLC or as a sole proprietor, then nearly any lawsuit arising out of your rental activity will be over something that you did as the property manager/owner, or something you should have done but didn't.Since you personally manage the property, you are also personally liable for your actions.

My goal is to be a broker-in-charge/sole proprietor of my current LLC.