I finally had enough of desk jobs and the corporate world, and an opportunity to do something different arose, so I jumped.

First I want to begin flipping homes and as I go along would like to rent out.I recently graduated from georgia state and have been employed at a corporate office here in atlanta.

The next best solution is this: Guidant will set up a new corporation for you, have the existing 401K transferred to your new corporation, and then you can use the money to pay an employee a salary.

Return of Partnership Income. http://www.irs.gov/pub/irs-pdf/f1065.pdf and include Form 8825 Rental Real Estate Income and Expenses of a Partnership or an S Corporation http://www.irs.gov/pub/irs-pdf/f8825.pdfYou will then prepare the 1065 and while doing so will prepare a Schedule K-1: Partner

I am a CPA (corporate financial - not tax) at a large, national home builder.

The criteria I am using, which I am basing off recommendations from members on this site consists of:- Equity: 40%-100%- Property Type: SFR- Bedrooms: At least 3- Absentee Owner- Exclude Corporate- Exclude Trustee- Last Market Sale Date: Pre 2006From this list, my screen is yielding only 119 addresses (with my selected area yielding about 130,000 addresses before adding any additional criteria).

Grad school was great but I didn't see myself fitting into the corporate world or "getting a job."

Rent bumps are not as strong but you also have all expenses paid by the corporate tenant so that 2 to 3% per year bump is not offset by growing expenses and maintenance costs.Water goes up, taxes skyrocket, land or building has issues the corporate tenant eats all the costs and you still get a passive return.I do agree that for people with limited funds houses are a starting point because they have more time than anything else.The clients I deal with typically have a few hundred k to into the millions and they do not want intensive job or headache type investments.

If you do a search on these in the search bar above to the right of the BIGGERPOCKETS logo---you'll find tons of stuff.Good job jumping in and asking questions.

And I gotta say, I'm impressed of these huge corporations such as Google, Apple, Verizon, etc. were able to avoid paying federal income tax.