Now should anyone pay 20K for a per se guru.

Im looking for other students or people that have attended seminars to bounce ideas and/or partner with, using his model.I still have contacts and actively searching in the SE of the US but now want to peruse in my back yard of the bay area.Welcome any discussions.

Rent you receive from real estate held for sale to customers is subject to SE tax.

I focus on SE Cuyahoga + NW Summit counties.

(That's s/e El Paso County in Colorado)

I have done some research on houses I think I could get into for 75k.Let me know if these numbers seems reasonable based on my research and if there are much better areas to do this in SE Michigan.Purchase price - $75,000 (3bed,2bath,1,000 sq. ft.

From tax perspective:1) Flips - Generally, If you expect to make more than 50k in a year from flips, S-corp will save you SE taxes ( 15.3%).2) Rentals - LLCs are the best for rentals.

It was a tight market it about 1987 and then it startedto slowly improve, more and more andTHEN,...about 1993 if you bought a property ( any Price) by 1997/98 ithad increased in value ..2 1/2 to 3 timeswhat you paid for it.things were crazy..In the high end areas ( SE Denver, etc)it was frantic, People were paying overasking price by easily, 10 to 15%.On weekends you would take yourbuyers out to look and you parkand there would be 3 or 4 or 5 other Realtors, with their buyers looking.Run thru the house, "do you like it" "Yes"race back to the car, slam a contracttogether and get to a fax machine beforeany of the other Realtors could get theircontracts turned in and try to put a shortacceptance time on it, so as to tie it upbefore anyone else could.

There are no clauses per se that I put in when submitting an offer on a REO.

Hi @Jonathan LewisWelcome to BP and welcome (almost) to SE MI.