Let me know if you need more info, more details can be found in the group section.

Cost $200,000.00 Contact Michael Lapat I spoke with him in detail his indepth explenation of every step of the process is profound.

Compared to other authors on the subject, he seems to get into details more, and shares his experiences on what has worked and what to watch out for on topics that you wouldn't really think too much about, but can have a big impact.

I would go into more details, but I don't want the honorable brotherhood of XXXXXXX after me.

.- Scope of Work: This lays out specifically what work is to be done, in as much detail as possible- Materials List: This lists the materials that should be used for all aspects of the job, including where they should be purchased, SKU numbers, and anticipated pricing (if the prices are off, call me to figure out what to do)- Payment Schedule: This lays out when the contractor will get paid, generally using 2-5 draws (depends on scope of project and schedule)

To top it off, you have to try to do all these things while simultaneously juggling the myriad other details of your life while laying the groundwork to become a full-time investor.There just isn't enough time in the day, is there?

Ended up finding a different house all together that we like and are still negotiating the details on.

So, whether or not you have an LLC is irrelevant for the tax questions.In either case, you'll need a partnership return, then each of the partners will move their parts of the profits or losses to their personal returns.IIRC, CA charges an $800/year franchise fee for LLCs.I'd be DANG SURE I had a detailed, written document describing how the partnership would work before I did any deal with partners.

When you get a property under contract, print out flyers detailing it, and take them to your meetings and pass them out to everyone.

The first project I ever did, I decided to call five contractors to get bids; I put together a detailed scope of work and materials list, and had the contractors come out and walk the project with me.