The following types of income are considered eligible compensation for IRA contributions.SalaryWagesTipsProfessional feesCommissionsBonuses received as a result of working or performing servicesTaxable alimony received under a divorce decree or separate maintenance agreementNontaxable combat pay to combat zone personnelDifferential wage payments (wages paid by employers for employees who are on military active duty)Certain net earnings from self-employment (after deducting one-half of self-employment taxes and retirement plan contributions)There is, however, a maximum age restriction for Traditional IRA regular contributions.

I would be doing well just to have a regular handyman at this point.

I just found out that there is currently a mobile home on that property, and I will see what condition it is in, and if it can still be used as a sleeping quarters.This is some great info!

Trying to guess appreciation is, well, a guess.If your buyer's appraisal comes in lower than your contract price the situation is really no different that a regular contract where the appraisal comes in below the contract price.

Account Closed ...No, it's usually during the course of a regular work day...

Now I know that they have a lot more overhead then regular rentals but If I could get it to just pay for its self then my Family would have a vacation home with little to no affect on my wallet.

@George P. your children can work for you at a younger age then a regular job at least in my state. (2 would be a little too young). 11 is fine here but could be different elsewhere depends on whether it is reasonable to expect they could do what you pay them for.

I have a guy I use regularly for all my real estate, you can call me at 281 507 7806 and I will let you know who he is...I'm in Conroe, but I see you are in Katy...so is my attorney.....text me first so I will know who you are

Might put you to sleep if you try and listen to the whole thing in one shot unless you just LOVE TAXES.The Everything Store- Brad Stone.

. :)I find it interesting that many lawyers do not fully grasp option contracts, were they sleeping in Contract Law classes?