Contrary to popular belief, being labeled a "dealer" doesn't mean that all your properties are subject to ordinary income; likewise, not being labeled a dealer doesn't mean that all of your properties are subject to capital gains.Each property will need to stand on its own merits, and the determination of whether a particular property should be taxed as ordinary income or capital gains will be made based on the intent of the transaction, not a "dealer" label applied to a business or individual.That said, if you are labeled a "dealer," you may find that you have a higher bar set for declaring one of your properties to be an investment as opposed to inventory.

Same tenants left standing water in the kitchen and destroyed that floor, though the true extent of the damage didn't become apparent until the next tenant moved out.

Recording is mostly for notice/effectiveness upon third parties, etc.

The other part is that I turn 39 on Wednesday, and I am literally starting the second half of my life with nothing and a drastic career change, which will require not only massive amounts of time, but also massive financial commitments.My overall goal with this is to acquire enough property to be able to support myself whilst I attend naturopathic medical school and begin a practice.

The state commissions care nothing about these third party organizations.As a licensed agent in most states you have to hang your license under a brokerage to conduct business as a licensee.

I am going to a strict no pets policy because I cannot stand the smell of dog poop.

Stay focused & on point you have a lot of support here.I had a so called 'rich guy investor' @ a dinner party of fellow investors call me a slumlord.Several years later he unknowingly paid a lot of money for one of my slum abodes.

The tough part is my work is seasonal and I get paid through payroll companies.

The fun part is when you get to the later years and see all that cash flow coming in.

If you're primary focus is capital growth (what I call appreciation potential), then you'll want to focus on more cyclical markets where you can get a positive cash flow but stand to gain more on the "back-end".In both cases above, you'll want to stick to markets that have a sound economy and a healthy housing market.