I look forward to working our way into the housing market with the purpose of financial independence and producing a passive income!

Owner Finance Deal 2 SFR on 1 lot zoned MFRSelling Price: $215kDown payment on signing of contract: $35kAdditional Down payment paid in 3- 6 monthly installments by November 2017: $15kBalance of Owner Financed note: $165kTerms: @5% payable in 2 years amortized over 15 years: $1304.80 (P&I), or $1729 (PITI)SELLER:70 year old Realtor, living in another city, wanting cash flow for 2 years, with a big payment upfront.Refinanced the houses in 2008 for $128k,Still has not paid property taxes for 2015. 2008 appraisal:$188kHas been periodically taking loans to pay property taxes for other owned rentals - now sold- over the past few years.Ignores requests of repair list, and does not want to “alarm” tenants since they do not know of her intent to sell.PROPERTY::Zoned MFR near an established area in that part of the city.Street has MF units across the street, and a mix of SFR and MFR on its own side too.1 large lotHouse #1: 3/2/2, 1480 Sq.ft rented for $975House #2: 3/2/2, 1455 Sq.ft rented for $950House 1 & 2 are connected in the middle with their independent 2-car garages.

One way to overcome this is to have sponsors have their prior deal performance independently verified by a 3rd party.

Are agents paid as employees or independent contractors for tax purposes?

By the time we are 40 my goal is to be independent from any work other than managing the properties we own.As we are both 23 I believe these are achievable goals and I am excited for any help with the right first steps to make these things happen.

@Chuck Cirulli: I hope you made sure of the following when completing the transaction:(1) Enabling: This is when you (as the disqualified party) and your IRA are joining together, you have to make sure that you are not enabling your IRA to complete the transaction and vice versa that the IRA is not enabling you to complete the transaction (i.e. documenting and maintaining that either one could complete the transaction independently).(2) Simultaneous: This I discussed in my earlier post.Doing percentage interests is not improper, it is same as Tenants in Common, it is maintaining appropriate documentation about the transaction.As I do not know your exact structure there are some post acquisition do's and don'ts too that have to be followed.

I'm a Re Agent..I have a 93 Houses package deal in KC Market (Raytown,Independence, Grandview KC)

Congrats on taking action and working towards your financial independence!

My dream is to become financially independent and be able to pay for several weddings as it appears I only make girls

Quick question for anyone with some experience dealing with this. I am under contract on a duplex, and during the inspection, we found evidence of an active termite infestation. My initial instinct was to back out imm...