Hey Brad,I currently have my SD Roth IRA at with a Texas based company, because I like to stay local, and I strictly use it for private lending, securing those notes by RE.

Other than that, you'll want to account for water, trash, insurance, common gas, common electric, cleaning and routine maintenance, landscaping, snow shoveling, and of course, like with buying any kind of property, plan ahead for future expenditures.  

I still had to study after finishing the class but they covered all the material and gave me confidence going in to the actual exam once I got to a point where I could pass the practice exams routinely. 

As a start I've been going over notes I took while reading, making a habit out of reading through BiggerPockets and other investing sites a part of my daily routine, and started looking at listings for properties and try my hand and at calculating potential profitability for them in my spare time.

It feels like there's so much wasted time on something that's so routine but mistake prone.

Even though I have the luxury of not being up against the clock because there is currently no loan, I will not tell the contractor that and will look to strictly hold them to their timeline. 

I see your a broker in WA, if you routinely search for those types of properties please PM me.

Things that an investor looking strictly at ROI may not see as an issue, certainly could be for someone planning to live there.

Finding a reasonable lender on my own hasn’t been easy the’ve all been pretty strict.

Hi @Cj Powderhorn, The general formula to determine the amount of taxable gain that you have is your gross sale price - routine selling expenses - adjusted cost basis in the property = taxable gain.