Questions?

Great question, Rae! 

Demonized by some, and a get rich quick for others.For those of us that are licensed and operate within the guidelines, properly disclose, and set the proper expectations, wholesaling at its very essence is problem solving.

If you're willing to be live in one half and rent out the other then you'll have a better ability to make it work out for you.We've focused on finding distressed properties and then flipping them, but we're able to make the numbers work since we do a lot of the rehab ourselves.If you have any questions feel free to message me!

Personally, what I've been doing is simply adding up these individual expenses, and then come tax time or whatever, simply divide it among the number of properties that I have, and then add that number to the specific unit in question's maintenance/repair expenses.

Thats why I wanted to ask a lot of questions about exit strategies. 

You get the write off for the repairs and still collect 100% of the rent so there’s no question down the road about gat happened to the missing rent.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

They may charge based on volume or weight.Local Waste Management: Check if your local waste management authority offers bulk item pickup or special services for construction debris.Let me know if you have any other questions.

This is my opinion as a CPA who has prepared hundreds of income tax returns for both individuals and businesses with rental properties.To answer your question directly, you report the rental income you ACTUALLY received.It does not matter what you advertise as your rental listing price.