You'll also have to pay taxes for the portion of the year you owned the property, and potentially last years taxes if those have not yet been paid, which may well be the case this time of year.

An S-Corp is good for operational income, such as rehabbing and flipping, because the S-Corp can pay you a modest reasonable salary, and only THAT portion is subject to self-employment taxes.

And, in reality, only a portion of these were going to be subsidized.

If the building has been there longer than the statutory period to claim that portion, you can go to court.

Association dues were $100/month so there goes a substantial portion of the monthly rent.

"If I were to partner with someone and I put up the money and they provided the credit to get a loan I would expect for the credit partner to be compensated in some way (i.e. receive a portion of the profits).

hi james, i agree. he is slow on getting the work done, but when he completed the garage siding portion, i had a paypal bill in my inbox 30 mins later. and that rubbed me the wrong way. i paid him right away and that apparently is not good enough.he nickle and dimes me every time as well. while calculating his drywall estimate, he quoted $381. i asked him "why $381 and not $385 or $380" and he said" that's what my formula says. and that's just one example..i dont want to argue because that ruins relationships. not that i have a problem arguing (some might say i am bitchy enough), but i WANT to work with people, not push them away.

It will have sway, or at least keep a portion of your $$25K still in play.Blessings and much luck in your investing, all!

Granted the principle portion of the payment made will reduce your loan balance and increase your equity but you cant spend equity that you may or may not realize when you sell.

A potential way to reduce the liability is check into that.The portion of not taking the property because of some exemption.