I would be reducing my income hundreds of dollars per hour.Just like an investor wants the best deal to purchase the broker/agent should be trying to build the best business possible for themselves.I totally understand what you are doing and wish you the best success.I get contacted sometimes for people wanting to buy little houses in Atlanta.I am upfront and tell them that is not what I do and I can't help them with that.800 in rent for about a 50k to 60k house is what investors are looking for in the outlining counties here as well.They are out there but they go quick.I am starting to see new home builders put up new homes and see advertisements which I haven't seen in about 3 to 4 years.California is a speculative state based more on betting for appreciation so you can't look at that market in many areas from a cash flow perspective.Investors will just over bid you there for the appreciation play only.If it breaks even or loses 100 a month they are fine with that.I get contacted with investors from New York,California etc. where they do not like the CAPS there or what their money can buy for investing versus other states.Getting you license might be a good idea if you want to just buy property.You have a bigger payoff in your price range than another agent would searching for you.If you land a deal that eventually nets you 50k in equity than it was worth the search as a buyer.If you are an agent getting 600 bucks for that time not so much.You would have to string 10 sales together to be at 6,000.You would have to do over 8 closings a month just to make 100k a year.I just don't see that as a sustainable business model for a broker/agent without burning out.

But my main question remains, in a scenario similar to the one outlined above by Michael, would you recommend setting up an S-corp to pay myself wages (and other reasons), or no?

Since you have been involved in "many" transactions over two years, I expect that if all these buyers and sellers are "very happy" you could outline at least *several* cases where the home buyer has executed the option and is a proud new owner of a traditionally financed or fully owner financed home with somewhat decent terms.Although I think it usually is; I don't think the L/O must be opportunistic, and can give you the benefiit of the doubt.

(although I understand that when the contractor did not finish his work – soffit and window) that would just be my lost and I would need to take care of that again), I didn’t force anyone to pay in cash, your fiancé decided that it was more convenient for her to deposit into my account, when the contractor did repairs, I spoke with you on the phone and not once did you mention that there was debris in the back yard, all you had to do was SAY SOMETHING (I’m not a mind reader) and I didn’t debris was there, I’m sending you certified letters to ensure we are all on the same page about what was agreed, not to mention that the letter outlines what you have paid in rent since you moved in, and lastly this discussion is about US HERE NOW, NOT about a previous tenant!!!

Obviously he is a CO lawyer and has outlined what you need to do.

•A late fee in the amount of $25.00 is due for all late rent payments.This letter serves only to outline the corporation’s general requirements for tenancy.

MikeOH, what is the two step process that you outline in your book?

If the properties you're looking at are close to incorporated areas, the city will have a 3-mile plan or Annexation Plan, that outlines what kind of density they'd like to see in that area and whether your parcel would be considered to annex.

Your purchase contract didn't outline/specify this?

My third discussion, however, turned me away from them for a few reasons outlined below.