And I've given Armando Montelongo's "Flip & Grow Rich" program the free 30-day trial (don't think it's worth $400!

If you make withdrawals that do not meet the rules for a qualified distribution, you’ll owe ordinary income taxes on the portion of the withdrawal that represents earnings, and you may also have to pay a 10% income tax penalty if you are under age 59 1/2.

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.

Then eventually grow into bigger and better properties.

On anything that you "hold" less than one year it'll be SHORT TERM capital gains, which is just your "ordinary" (marginal) rate.Hold it longer than one year and it's LONG TERM capital gains (15%) of your NET GAIN.If it's you PRIMARY RESIDENCE (2 of the last 5 years) there is NO TAX on the first $250K ($500K-married filing jointly) of gain.Or is that only on any profit I make from it?

If they charge less than 10% of the gross, however, they won’t last and will either raise their rates as the business grows or take on too many properties.

I agree that the IRA to Roth, to SDIRA is going to grow, and would really like to hear more from those doing it, how it's working for them than relying on the industry hype.

He said 'yeah, but money don't grow on trees, I can't afford to just go clothes shopping'.

I look forward to growing my wealth, securing a future for myself and my new wife with all of your help.Thanks, Dave HumphreyAnd if anyone is in the Akron/Canton area, I would be happy to buy us lunch one day if time allows for you.

Anybody else have something out of the ordinary that could help some newbies?