I use the S-Corp in CA, for federal tax reasons it is better, I pay myself a reasonable salary (small) that covers FICO,SS and all the usual stuff, then pay myself bonuses which arent subject to FICO.

Keep in mind that flood insurance requires you to pay for the full year upfront so you can't sign up during the raining months and cancel a couple of months into it. 

The management for RV pads can be very challenging, especially getting in quality tenants, but the going rental rates start at about $500/month bonus cashflow from a sideyard with access to the basic utilities on a "plug-in" basis.

I also went to the success path and didn't sign up though because I didn't have enough money.

You can get his property with a lease option to buy as is, agree on the price, you cover his loan payment plus something bonus, then you turn around and advertise that you are lease optioning a home as a handyman special.  

Have tenant call to arrange for wiring cable to the unit when they sign up for service and let you know if additional costs are billed for that service, which you would cover.

T stuff, i like to use 20% as a fudge factor, it normally gives me enough room if i missed something, and if you get something at a bargain, or you get a good contractor for cheap, Bonus for your wallet.  

Hey All,I've been listening to BP Podcast for about a year now and I'm glad to finally sign up for the website. 

ADDITIONALLY to this (this is the bonus ball) the developer has guaranteed 5 years rental income, weather they find tenants or not, i still get my $650/month rent cheque (-8% for management fees).

If someone can help it would be great, the deals of the property are below;Single Family 2 story3 beds, 2.5 baths w/upstairs bonus room2248 sq. ftARV = 170k - 180kProperty needs paintLinoleum in foyer, kitchen and baths need to be replacedCarpet needs professional cleaningWholesale/assignment fee 7k - 10kAny help given would be greatly appreciated.Thanks