I've talked with my lawyer about this and he suggested I also discuss this with my accountant to determine the best method to orchestrate this from a tax perspective.My accountant suggested that the properties held individually in LLCs elect to be taxed as an S corp, because of possible self employment tax, to which I replied "Isn't rental income (passive income since I'm not a real estate dealer) excluded from the self employment tax?

You need to be familiar with your position as an investor or dealer and the SAFE Act laws, national and state.

. $10K would be cash in a reserve account and the other $10K would be for dealer's license, insurance and other initial expenses.

If they started dealing drugs or if they called the health department or building enforcement to complain about their imaginary problems, then I would be all over them!

You're going to deal with drug-dealers, drug users, plenty of evictions and a TON of headaches.

I just had to let everyone know because I have been reading these blogs and from East to West and From North to South everyone is a DEALER NOW.

While we were never overtly irresponsible with money (i.e. gambling debt, drug habits, credit cards, expensive cars), we moved many times, did PhDs, and spent the better part of our 20's and 30's doing things that might have been personally enriching, but were at some level exploitative of our time and not financially beneficial.

There are many other areas of California where prices are still affordable but they have high unemployment, crime, drug use, etc. since AB 109 and Prop 47. 

Or even think of it this way: Like a car dealer buying a good car from an auction.

Hi All-I was hoping to get the communities input and any recommendations on any good, reliable wholesalers/deal makers in the Twin Cities.  Mostly looking for SFH in the metro area in decent neighborhoods.   Any insig...