They are a hassle to put in, which is probably why the last guy skipped that step.

When my step father passed away, my mother lived on her own for a few years.

I'm stepping into that now.Basically you take a motivated seller (someone who desperately needs to sell their house fast).

Capital and equipment.If the gross receipts and profits come from items 2 and 3, then that should not be associated with the shareholder-employees personal services and not be allocated as compensation.On the other hand, if most of the gross receipts and profits are associated with the shareholders personal services, then most of the profit distribution should be allocated as compensation.It seems to me that if you use a S-corp, pay yourself only a small salary, and are very actively involved in your flips, the IRS can step in and reclassify most of your pass-through as wages.

One step at a time!

Check out this post on a recent acquisition i made: How to Buy a Small MultiFamily Property: A Step by Step Case StudyYou are bound to get a lot of ideas, so hopefully we can help get you down the right path a little further.

I'm wondering what steps I could take to ensure that this is a good area to rent in.

Documented - found the 7 steps to Buy and Hold Rentals.next Goal - step one of B&H Rentals find out why different areas have certain $ characteristics?

Hello all, Just curious as in the first couple of steps to start focusing on when it comes to developing a business plan for vacation rentals?

I guess I'm looking for all the steps you would take when buying the house yourself without the assistance of a real estate agent or the bank.