I know its mean to say that people who do their own contracts get what they deserve, but you must know that if you are paying a couple hundred thousand dollars for something it just might have been worth spending $600 on a lawyer to do a proper contract for you.

People pay a lot of money for advertising, so here is your chance to gain valuable "real estate" for free (or for the cost of a sign).

I think mine cost 1800 for a 400,000 LOC, but I'm a noob and may have got a bad deal.

I made a few thousand less than expected but I figure that's just the cost of doing business sometimes.Based on my experience I wouldn't let the remote possibility that a homeowner might go into greed mode dissuade you from doing these deals.

The two deals with friends both ended poorly with friendships ruined and tens of thousands in legal fees and court costs.

How much do you pay a bird dog for finding you property leads?

Here in Texas, thousands of people have been deported in the last 2 weeks and many who have not committed any crimes per our local news agencies.

And it only cost them $4,000.

@Matthew McleanBigger Pockets is a great place to find an accountant specializing in real estate taxation.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.