Hopefully I won't be too bad off if the IRS checks me out since I believe the short-term capital gains rate is the same as my ordinary tax rate, but I'm starting to think that maybe I should have paid self-employment tax even though I only did a couple.In any case, now that I am going to focus more on REI, I will set up a S-corp to do the fix-and-flips and a llc for the rentals.

Accountant to do S Corp taxes then Turbo Tax to do personal.

The title agent will need the contract/s from you.

Just punch in #'s like your building a house from scratch and it will give a cost break down at the end.

bostonhome, i just did a loan that is a variation of the 203K...i did it through saugus bank...10% down based on the ARV...decent rate of 6.875% ....this was for a 3 decker...i am not flipping, at least not now...im renting the units outmy deal (round #'s)...purchase $200K ...$20K renovations...ARV $265K...I had to put down around $25K...it comes out to a little more than 10% but still a good deal i feel...you may want to check it out...i will use the program again if i can...good luck

They tell my tenants that I'm a piece of s%!

They are all residential rental properties.Thank you, Billy941.623.6978930 Stonewall 38107 110k3037 S.

You can use an S corp to help with the SS tax issue.

You can list at 7% all you want but, in this environment, I'm not seeing ANY 7's getting a pass.

(c) My wife of 27 years is a real nervous nelly on REI, despite the s**t pot of money we've made off of it.Remember that the deals you're finding now are not 100% driven by the current financial upset.