Talk to a CPA who specializes in real estate; they can guide you on the best structure.Decide on Your Payout MethodPersonally, I prefer a mix of methods.

Richmond certainly would have some potential in pulling trades from, but coming from Lexington, you might face an added trip charge on top of the service provided.Over the past few years, rents have increased nationwide.

By consistently researching the market and recording both my own and my colleagues’ transactions, I’ve built a substantial database of closed deals, which I use to guide my clients effectively.

.- Once your time is more impotant to you then the cost of a PMC, you can hire one.2) Hire a PMC to guide you on your first rental and learn from their expertise.- You can buy additional properties and DIY manage those, perhaps leaning on the PMC for any issues you're not sure how to handle on your own.Good luck:)

Start with BiggerPockets Ultimate Beginners Guide (free).

We arranged closing during a slower period of time & had him leave everything (furniture, inventory, guides, etc.) literally bought it & could start taking booking the same day.

As a newbie, I need someone to guide me from the beginning to try to avoid mistakes and hopefully be very successful.

Made it back from our recent trip to Belize. 

Start with BiggerPockets Ultimate Beginners Guide (free).

Publication 15, Employer's Tax Guide, says only this much:...Payments for the services of a child under age 18 who works for their parent in a trade or business aren't subject to social security andMedicare taxes...No definition, and IRS publications are not really law anyway.