Elise, I am from NJ and my properties are in PA, my PM has never charged that. 1099-MISC is for sub contractor when you pay them, as a PM you are not paying owners because we own the property, we pay you and if anything we should be sending that to the PM, but you should be professional enough to report your income, that income for you is subject to SE tax which you would have to pay. if you are going to charge your customers to cover that cost on top of your normal rate you charge, you may not get any business.

The hidden cost of having to survey each unit and create condo docs with separate deeds can be extremely expensive and should be considered before moving forward with this.

From an entrepreneur standpoint, these barriers and challenges are what also create the opportunities. 

My question is, should I keep it as a schedule C on my tax report or create a legel business such as Corp. or LLC ?

Vendors can do it because we spread the costs among thousands of customers. 

What are some things you wish you had known when you started off in the industry? 

Austin: I have not even thought of looking at the crime rate, but I agree that could create relatively large issues.

Example: By creating an irrevocable U.S. domestic trust, a nonresident alien (NRA) may be able to exclude US situs real property from US estate taxes.

So if you exclude Section 8 or other vouchered tenants, if the new ordinance goes through, you will have to allow vouchered tenants to apply and count their voucher as part of their income.most cities on the MO side are creating licensing and interior inspections to become very similar to KS, although KS has a state law allowing a tenant to opt out of mandatory interior inspections, no such law yet in Missouri, we are trying to get it passed. 

Seems like a great fit as I get to create $20,000 in forced equity by funding the repairs myself.My first 7-8 purchase all those years ago were like this but here is the problem with what I did.