@Erick AcostaS-Corp can potentially save you on payroll taxes.There are costs associated with the set up of an S-Corp(election costs, payroll tax return costs, income tax return costs, etc).It only makes sense when the savings of the payroll taxes will be more than the administrative costs.You should definitely consult with your tax advisor on if it is right for you.

I wouldn't really consider $300 a month cash flow, THAT is more the savings to go towards upkeeping/maintenance (hvac, dishwasher, roof, septic).

@David Avery Any chance you can send me Edd Fishlock’s info?

Thanks for that info Eric. 

Class B typically cashflows from purchase or within a year or so.Class C typically cashflow well from purchase, but has tenant performance challenges.Read copy & paste info below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

And I used the small profits to put towards savings for my next project or for maintenance on my house.Based on my experience...I would do the same over again.

I started with nothing and aggressively saved for almost a year until I had 10k for a downpayment on a cheap house.Step 2: Join online platforms like BiggerPockets, Eventbrite, Meetup, and Facebook groups to connect with investors and get an idea of what kind of properties to look for as investments.Step 3: Use Zillow to find agents and communicate what you’re looking for.Step 4: Analyze at least 5 properties a day in your target market for six months to understand what it would take for you to make positive cashflow.Step 5 Get pre approved from a bank.

Downpayment was through personal savings from my 9 to 5 and remaining financing for purchase and rehab came from hard money lender (Easy Sreet Capital).

These referral services have you add property info, photos, etc. but then send your info to the listing agent who does the work (and gets paid by the referral service).Here's the catch: The actual listing agent is going to need to send you the real listing input form for your local MLS.

I am hosting a lunch&learn Zoom call on Wednesday about rent increases, more info on RPAWI. org - a local non profit REIA.