Hi all,I'm having a major issue with my HOA president, who did not know what CCRs were, and who balked at providing me, a tenant of my condo for 17 years, of the financials.  

S-Corp is a tax election and I was told it really didn't make sense for my 2 partners and I off the jump as we would need to be turning a profit worthy of splitting 3 ways (at least 120k he said) that would justify looking like a reasonable salary.

For example in California agents must take Principles of Real Estate, real Estate Practice and an elective course to qualify for the exam.They all have good info for newbies.

My mom's boss is the president of a commercial construction company and said if I found a deal he would finance it.

Prince George's County and Baltimore are better choices as we look forward in the next election cycle.  

For example, if you want to set up an LLC and make an S corp. election for tax purposes, you need to be careful about how you structure your operating agreement to reduce the risk that the IRS might take the position that you don't qualify as an S corp and decide to treat you as a C corp after the fact, with added taxes, penalties, and interest.   

I've had LLCs for my commercial apt bldg buy and holds and an s-corp for my mgt, consulting and wholesaling transactions for over 11 years.I filed with the state and did my own sub-s election and got my EINs from the IRS on my own (wasn't hard at all), but I paid my attorney less than $1000 for the articles of org/inc, Op Agreement, minutes, etc for both entities.  

The market is hot right now, there is an election coming that may or may not affect the economy, and more and more people are using HML and other tricks to get into the market.

The woman made enough to rent the place without Section 8, seems to have checked all the appropriate boxes that would usually tip us off to a problem tenant on her app, and she still elected to not pay rent.

You may elect to get an umbrella policy, as well, for extra protection.