If I don't convert to a residence before January 2009 my rental formula will kick in reducing my exclusion 21/2 years later.Why hurt small investors just to pay for giving new home owners a tax credit which they have to repay anyhow.

The problem is, aside from knowing that a lot of money can be earned if done properly, I pretty much am ignorant in this field.

Keep marketing and develop a "spiel" where you can qualify the sellers so you reduce wasted time looking at houses that you can't buy because they are not motivated enough.

Also, I will need to form a corp for this so I can retain earnings in the business without giving it to uncle sam.

This way (if you both agreed on 2%) and you find a property where the seller's agent is offering 3% to the buyer's agent, you can use the reduced agent fee on your side of 1% to reduce the asking price during negotiations.

I heard this method can be quite extensive.If I understand you correctly, once I find a good value I should reduce that number in half and then subtract repair costs.

This is where I think it should begin.Suggestion #5: You could offer the best suggestion and the runner-ups different fee-paid services for free or at a greatly reduced rate, couldn’t you?

Crediting $200 per month to the purchase price does not help you as the seller and, in fact, reduces your profit at the closing table.I have had great success in having the following:* 5% lower house rent than my competitors (its taxable income any)* Extra Option payment of $300 per month (tax deferred as per IRS IRC 1234)* Guaranteed up to (2) 12 month extensions if financing fails (rent is increased by 5% next 12 months).* Having their Option able to be "marketed and sold" by TBers at their own expense if there is either a family emergency or job transfer (needs to be proven)IMHO, people that 10% into a property will get financed better and easier than No Money Down or 3%.

Job is home care and earns about $1800 monthly.

Just wanted feedback if this is something that might be a feasible idea people might actually want to higher out for and earn some extra money for me on the side.