I would consult legal counsel before acting but I respectfully disagree to say it is an SEC violation per se to mail to a private money list.True if you offer a specific percentage return or offer participation in a specific deal you may NOT legally do so.

Does it make more sense to pay SE only on the 28k+30k?

While I don't do the calculations, per se, the time/money tradeoff is always in the back of my head...Remember, there are two way to increase your hourly earn:1.

I hold title in the name of the 401K (with high liability insurance) until the place is sold, not in an LLC per se.

Include the profit on a schedule C to make it subject to SE tax.

Very cool - glad to se eyou over here and leaving great comments.

Does anyone have any tips for SE Michigan?

Generally, all non-rental income is not subject to SE tax.If it is multi-member and no election is made it is taxed as a partnership.If it is single or multi-member and Form 2553 is filed it will be taxed as an S-corporation in which distributions may be made and not necessarily all income will be subject to SE tax.If it is single or multi-member and Form 8832 is filed it will be taxed as a C-corporation which is taxed and dividends will be taxed personally as well.

Led the SE region of the country when Met went into P&C.

We are considering electing sub-chapter S status for 2013 to help save SE tax, we are in the business of flipping.