For example, I (as a dingle filer) have 30K of ordinary income and pay tax @ 12% on 18K of AGI income after standard deduction. 

Until recently, if the value of a borrowers house declined and their bank/lender forgave a portion of their mortgage (via a short sale or deed in lieu), the tax code treated that amount forgiven as ordinary taxable income.

People you hear about in the success stories here are prime examples of ordinary people who have been faced with similar challanges, and who have taken a different road to achieve a better life for themselves.

It's a little less predictable than first class but as long as you get your mailings out three weeks before you want them to hit, that should be fine.Add yourself to your mailing lists so you know when you get the piece that they've hit the mailboxes.An actual postage stamp will help the piece appear a little less like ordinary junk mail and will get better response, but you may be able to make up for that by sending out more pieces at a cheaper rate.

I established an LLC for ordinary income, and I have my wife as my partner.

"The difference between ordinary and extraordinary is that little extra."

Your income from a flip is NOT capital gains, it ordinary income and it is taxed at your marginal tax rate.

MAINTENANCE: Notwithstanding the provisions between Effective Date and Closing Date, all personal property on the premises and real property, including lawn, shrubbery and pool, if any, shall be maintained by Seller in the condition they existed as of Effective Date, ordinary wear and tear excepted, and Buyer or Buyer's designee will be permitted access for inspection prior to Closing in order to confirm compliance with this standard.

As mentioned, most of the time they are ordinary folks, no office, no gatekeeper.....they read their own mail and buy and sell as much as anyone else.......and they get very little mail because the common wisdom is to skip them.

Once your rental business in a given geographical area is up and running, you may immediately deduct expenses that are "ordinary" and "necessary" (these are specifically-defined terms) to expanding your rental business, but any costs attributable to a particular property that are incurred before the property is placed in service must be added to the cost basis of the property."