However, they may help if you are ever audited for expenses you claim relating to owning and operating rental properties, but ONLY IF YOU KEEP EXCELLENT RECORDS and in no case will it help you if you are cheating on your taxes.

A few other thoughts, if you want to get down to the nitty gritty about the bottom line, though some of these stats are relevant whether you sell or keep the prop: -expected appreciation over life of investment -equity bought through mortgage payments -benefit of the interest home mortgage interest deduction in terms of saved (or shielded) current annual income -a 10% misc operating expenses bill tacked on -a 4%-12% vacancy rate average depending on local norms -25% recapture of depreciation -cost of improvements that will likely become necessary if you keep the house for 10 years+ like new roof, new water heater, new carpet/floors, etc...minus the depreciation you can claim for each over time -whether you've held the property for at least a year, which will impact the classification of short-term cap gains taxed at personal income rate, or long-term cap gains currently taxed at 15%.

Not on sales too much but mostly processing and back end operations.

Being that I'm already operating a non-profit organization, there is a way to make a donation to my non profit and receive some tax benefits from it.

I'm thinking about the following1. form an LLC of which all owners are members and are all actively involved in the day to day operation of the business2. we make decisions together, though most of everything will be specified up front in the operating agreement (what we will buy, how we will spend money, and how we make decisions about when to buy, when to sell, etc)3. make sure to include clauses about "how people can leave and get their money back" and "how we can force someone out of the group" -- these will all be family/friends, but you really do never know what will happen with people and money.my questions are:1.

I'll need new electric service, furnace & hot water heater . . . so, all and all, there is no MAJOR renovating, simply getting these 2 units operational. . .If you know of any good, reliable, and reputable contractors in the area, please PM me, or send me their details.

If not, I wouldnt have an issue hiring one, so as long as Im not operating at a loss (of course).However the reality, so I have been told, is that it would take a long time to make any real equity or other profit from a rental unit, and thus, would make it hard to purchase additional property in the short term future.

I once worked for Elco Industries as a Header Operator running 4 hypro headers, making screws.

It all comes back to The “Haves” and The “Have-Nots”.The “Haves” operate with:Desire/DriveCommitment/DedicationDisciplineEducationCourageDeterminationExperiencePerseveranceOrganizationOptimismThe “Have-Nots” operate with:Fear of the UnknownProcrastinationLack of EducationComplacencyPoor Self ControlFear of SuccessWorld of ScarcitySkepticismLow Self-EsteemHopelessnessAll of us at some point in life have listened to voices of caution when it comes to following dreams of success.

Can't stand ebay, I have been burned on virtually every purchase through the platform.