So basically Bill agrees with me, but OTOH he doesn't!

We had 4 4plexes at one location that were basically hands off, a triplex that only took a couple hours a month and several single family, a couple of them were management intensive about 5 hours each a month.

The IRS will require basically the same thing as they do all business entities, a good and consistant accounting system.

It depends on what you plan on offering on the website as to which I would recommend however for a basic website I will recommend godaddy with website tonight.

He basically arranged everything already.....

Much more, but some basics.....

I'm basically trying to stop any expenses from occuring.Thanks

If I remember in basic accounting classes, if you buy back debt you owe at a lesser value than what it was issued at, that is considered a financial gain in the IRS' eyes and we know what the IRS does to financial gains.I'm not 100% sure, that's why I would think its worth a few hundred bucks to find out from a professional.

Also, it seems odd because if that is the case, a large part of my expenses go into something that doesn't necessarily pay back any interest at all.I know this is basic, but I'd really appreciate any insight on this.Thanks.

Recently, I have explored real estate forums, asked my former real estate professors about real estate careers, and have been reading textbooks on the basics of real estate.Now for the question.If you were 21, out of college, and with no real liabilities, what paths would you take?