In addition to that, do not use only one year's gross income to estimate future income because the subsequent years could be different.

We had a neighbor who bought two houses in Narragansett because both the kids went to URI and has subsequently sold them.

@J PatKeep a healthy safety net (cash), screen tenants well, be firm (letting that late payment slide is a no go, it is in your contract), don’t do business with family or friends, document your business so you aren’t making stuff up on the fly.

I also made exterior casing as part of the window frame and used pretty exact measurements when building so I could slide it into place like a replacement/insert but securing like a new build.

Therefore, your returns from previous years contribute cumulatively toward your investment basis, which the 8%/year for the subsequent years is based off of.  

Given the recent slide of the CAD due to it being a petrol-currency these days, we've elected repatriate some of those earnings and get a 20% bonus along the way.A flow-through entity on the other hand will not give you the ability to control repatriation of income.

I'll spare you the whole pitch here, but what I'm offering is a way to take the photos they already have of a property and, instead of just throwing them into a slide show and putting elevator music behind them, putting them into Youtube videos with custom narrations that provide actual useful information and selling messages.No surprise, it's slow getting started since while this is hardly a new idea, it's still not exactly a common practice.

I knew it would be a moneymaker since I was buying it for $24K and I looked at it six ways from Sunday before making an offer.Some things I knew it needed.Roof and some of the roof deckingSome interior doors and replace a crappy sliding door.Siding, part was Masonite, part was T-111, lots was termite and water damagedSome structural.

In this scenario I would be acquiring a short sale property from a wholesaler and then subsequently wholesaling that same property without adding value.

Subsequently, an acquaintance asked me to be a project manager for a personal residence he was self-building.