Real estate contracts in Texas are produced by the Texas Real Estate Commission, ie, the government.

In particular, Port Orange is rapidly improving with local government investment in the infrastructure.

Thankfully, most all of the information in printed in the newspaper once a month.

Imagine making millions of dollars throughout your career and then having to pay Uncle Sam 30-50% every year instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of the best ways to end up with a much larger net worth at the end of your career.

It just seems like there will be many that fail to file their report and I just can't see the government really going after tiny businesses for so much money for something that is so easy to forget to do.

Unless you do a 1031 exchange you’ll owe about 15% of the gain and 25% of the depreciation to the federal government.

I would be careful of the folks on here that strictly invest in section 8 as there are a lot of pitfalls when working with government entities and low income tenants.

In most cases, I bring a printed lease when I exchange keys for payment, have them sign it, go home and make them a copy, and then either mail them their copy or drive it back over.

Why do you think purchase contracts are so long and have such small print?

When someone pays me for an LLC, they are mainly paying for creating the operating agreement that governs the operations of the LLC.