Which is better for tax purposes?

Aside from the extra paperwork,CPA fees, LLC annual fees, bookkeeping wise, it's pretty straightforward.Finally, you need it for banking purposes, so each entity has its own checking account, so each business would have it's own profit and loss.

A market is a place where people go to trade goods and services and the main driver of these markets is scarcity.

And don't buy at market rate (i.e. buy at a discount) so that your leverage isn't 100% of market value, but only purchase price, if that makes sense.The main key to leveraging properties is exactly what Pete is saying.

But my purpose for the post was to get feedback from investors who have seen success.

Have been keeping an eye on the Waconia area but nothing has come across that just made me want to jump on it.I just can't fathom how these MF's in NE (my main area) are going for 150+/unit.  

I have been to several auctions myself just for educational purposes.

I planned on doing the minor cosmetic fixes i know i can handle (sheet rock, paint, trim etc.) but my main focus is going to be managing the flip as a whole (contractors,scheduling) creating a system, and setting up the next deal.

You can call their main office number or just pm me and I can get your number for the managing broker to give you a call!

Account Closed The closing date is the general ruleThe property "in service" date is what others also use for tax purposes and deductions.