Also, there is no benefit to you to do the walk through with them present.

@John GachI agree with others, you can likely benefit from a Solo 401k plan.

Even if they don't meet their estimated 13,000 direct hire jobs @ $56000 a year plus benefits, plus 7,000 supplier jobs, half that many jobs in Racine will make a huge improvement in the local economy.     

@Richard SnyderThe first thing is to determine whether claiming the real estate professional designation will benefit you.If your rental tax losses are below $25,000 and you make less than $100,000, you may not benefit as you would be eligible to take the same losses regardless of the designation.If you do benefit from being a real estate professional, you have to note that there are a lot of rules/record keeping required to actually get the benefit.

The cashflow made the deal work but all the benefits of Real Estate Control got me excited: cash flow, tax benefits, leverage, forced appreciation, and overall history of Real Estate Success!

If you can cash-flow $200-$350/month, with 20% down, that is a solid long-term investment.Also, the turnkey option is the best way to go if you would like the benefits of owning rental property without being completely hands on.

Granted there is not much cashflow but I am looking at the long term benefits, especially the appreciation factor in the area.

The real heat is professional wholesalers specialize in a skill that you don't/nor do you benefit from this aspect of real estate.

The technology is just awesome and incredibly cheap for its many, many benefits.

We'd like to split net profits 50/50 and I'd prefer if he can also get the tax benefits.