I'm leaning towards rentals, but right now we're basically living paycheck-to-paycheck, so I need to learn a way to get into r.e.i. w/ little or no money out of my pocket.

Priced to sell, I should be able to get $130K, so basically, I'm looking at bringing $10K-$20K to the table.

What I ended up doing was becoming basically self employed in the rehab business to feed me with something a little nicer than beans and to pay little luxuries like utility bills.

They put on classes for basic stuff like painting or tile.

Basically, my question is how do I report business income/loss on my personal return when there isn't an actual business entity?

It basically seals in the odor.

That included gutting to the studs, joists, re-plumbing everything (tub and toilet were re-located), re-wiring, insulation, moisture-resistant drywall, new window, new basic tub, subfloor, underlayment, fairly cheap tile on floor and tub surround, sink/vanity from lowes, basic toilet, paint, etc.

It was inexpensive carpet, but it is all documented, and he lost his deposit, plus is in the process of getting a judgment against him for the balance.A TRUE professional carpet cleaner MAY be able to salvage it for you, depends on the basic quality and age of the carpet.

OK, I think we covered the basics.

Basically the deal is dead.