Found this couple who individually has low income but has a decent combined income, no recent issues , no evictions ever, not great credit but no past due bills or collections in last 2-3 yrs ( the wife had collection issue prior to 2-3 yrs while studying), very good rental reference, verified employment reference.

That means you must at least file Form 1065 US Partnership Tax Return.All incomes and expenses will be reported on this form and that income will pass through to the both of your personal tax returns based upon your ownership percentage.The limit is different for one person versus married.Your biggest mistake is using a program to answer your questions.I represent taxpayers(individual and business) before the IRS.

If that is what you are saying, that idea makes me nervous as it makes it tougher to track gains/losses/etc for that individual property.Also Rob, how do you know when its considered "enough" in order to start xferring to another account?

Sorry i didn't want to have such a long post but i wanted to answer some of your questions. 1st thing using a realtor is ok but you'll be able to find alot better deals through Wholesalers or by individually marketing to sellers who need to sale their houses.

The individual Homeowner has to pay for it.

They might have money but still trash the place or live in an unsanitary manner.FYI there's no credit scoring in many of these developing countries, and anyway the notion of "individual" credit often doesn't exist in these places, at least for the masses-families hold joint bank accounts, one person in a large city remits money to relatives in rural area.

That book tells you about valuations of properties, appraisal process and the markets as well as comps.Negotiate a price, again, that book will talk about required disclosures, contracts and issues to look for to base your deal on.Say you take an option, get it signed and file it to protect yourselfGo to your buyer and sell the option to themYou might set up closing and let the real buyer do the buyer's sideYou go to closing and collect a feeBut, this may not be that is accepted locally in your area, a closer may not work with you, so now you have pie on your face because you didn't learn from the beginning.Gurus that say just jump in a deal are giving poor advice, you could muck around for months even years if you stayed at it and be dependent on others while you are used, ya think they want to teach the local competition?

I know pension funds, hedge funds, insurance companies, etc invest in this, but I was surprised to hear that individuals can do this as well.

Some wholesalers fear competition and will be cautious about teaching you to wholesale in the same market.

Short term, less than a year, interest only loans are fine for certain purposes but an I/O loan on a longer term basis is not the norm nor would it be a good idea long term.True private financing is something you negotiate with that individual, the rate, term, amortization and other requirements would be set as agreed.