I watched a tile install happen while the construction crew was trying to walk through the tile area to get to the backyard patio cover work, and the carpet was already in, yet the painters were masking off the carpet!

I have a lot to learn about that also, wondering if I have to put the profits back into the 401K or can I withdraw them like an ordinary 401K and pay the tax on that....I'll be keeping my CPA busy for while!

Moreover the payout is not taxed like ordinary dividends at 15% but as regular income.If I do find any interesting REITs that I plan to invest in, I will post my analysis on this thread.Do you have any REITs in your portfolio?

But in this case, he's asking you to beat the bushes and find the deals, then he'll scoop in and make all the profit while you get ordinary commission.

We are finding that renters really don't use much yard space other than a patio and maybe a small garden bed either.

Just so you know, you guys taxes won't be cap gains, they'll be ordinary income with self employment taxes. 

Flipping is ordinary income subject to self employment taxes. 

Interest reporting to you is as ordinary income, and you give your buyer a 1098 each year.

., 578 F.2d 520 (4th Cir. 1978) which deals with deducting expansion costs as ordinary expenses when one's activity rises to the level of a trade or business.

Finally, the patio cement slab (about 500sq ft) has to go.