@Mayra Perez  being a real estate agent offers you unlimited earning potential, but it takes a lot of consistent action to implement systems that will produce consistent income.

I’ll be sure to take what you’ve given me and implement.

Being that most people have unlimited talk and text, I figured money wouldn’t be an issue implementing this idea.

If you had the work done by a corporation or you used credit card, then no 1099 is required.These rules are in place to prevent tax evasion and tax fraud.This is the IRS publication discussing record keeping:https://www.irs.gov/businesses/small-businesses-self-employed/what-kind-of-records-should-i-keepThis is the IRS publication discussing 1099:https://www.irs.gov/pub/irs-pdf/i1099msc.pdf

I’m going to implement what I can where I can.

Thanks for the feedback I would implement it.

My Dad's suggestion was to "rent" the house from him, since until I have title there is nothing to prevent a parade of homeless squatters from moving in if I merely pay him to leave.

We are implementing a $2,600,000 redevelopment plan to modernize the property and set it up for future generations.

This isn't always the case, so I would encourage you to talk to your lender about this before moving forward.One strategy I see many clients use to hold onto favorable rates is by implementing land trusts into the equation.

Inherited tenants can be a pain; however, if possible negotiate terms strategically and stay firm in implementing management protocols in order to create a win-win.