You should be using an S-corporation for this business since an S-corporation is not subject to SE tax.

In this case, total cash returned is $6900 NOI less your mortgage payment(s?)

And I still have some question s about how-to foreclose.

I would set up a corporation and then make an S election.

Hello,I would like to buy some property(s) in my local area (Toledo, OH) that are Fixer-Upers.

What's the best way(s) you've found to invest?

Owner wants $2,000-3,000 and to walk away.Open to short saleOpen to creative financingHe is going to get back to me with the exact amount he is in arrears in the AM.He contacted bank to see if they will work with him and they said they want full note value ($268K)Owner wants/needs to do something fast.Suggestions on what type/s of deal to structure?

I have obtained some P&S contracts that I think will work for subject tos and lease purchase deals, and an assignment form.

My credit has gone down to the mid 6's, so I don't think a lender would even consider an application from me.

Went from 1960's to modern without tearing out one item, and it appeared ALL completely had been replaced quality wise.