Hidden expense on your side.- contractor profit: that's where you safe.

But, all these podcasts have hidden intentions of selling books!!!  

Buying a 10k house is difficult to make work, even in the cheapest of markets it will likely take $30,000+ worth of work to make it worth living in and can be in less than ideal areas with hidden defects to boot. 

. :)All this was done above board of course, with everyone understanding it - nothing hidden.

@Dan Earl if you email me, I'll share a copy of my move-out instructions and a description of the definition of "ordinary" wear-and-tear.You have a lot more going on here and would be wise to study up on how to document the condition of the home prior to occupancy, how to inspect, how to educate the tenant before moving out, inspecting after vacancy, documenting condition, cleaning/repairs, and deposit disposition.

The Form 1098 and instructions can be found on the following page.https://www.irs.gov/forms-pubs/form-1098-mortgage-interest-statement

@William S.Which is why you want business credit cards, not personal, that way it does not affect your FICO other than the initial inquiry....it is hidden borrowing !

Otherwise it gets partially hidden along with the quote.

I think the blanket statement that you always have to send a 1099 to an LLC is incorrect.From the IRS instructions for 1099MISC there is an exception to the "always pay" rule, and then an exception to the exception that says you still have to do 1099 for lawyers.Exceptions.

FWIW -- I've added auto/electronic payment as the preferred method within my leases with some general instruction as to how to set it up.