I'm pretty sure taxes on a flip are assessed as self employment income.

PHOTOS PHOTOS PHOTOS Add comps, honestly if its a deal they'll bite but presenting info to make it fast to assess always is in your favor. 

Not sure exactly how it works in NJ, or if it is any different than in FL, but the mortgages get wiped away...you are responsible for any back taxes on the property and possibly liens assessed by the county--such as code violations. 

I'm going back and forth on a house with a seller, Basis Investments LLC out of Bryan TX, who bought the house as a package a few years ago and let the house sit vacant and accrue assessments from sewer/water and street upgrades. 

Make sure that the cash for keys offer includes your right to enter the property to assess the condition, take photos and only upon their exit and your reinspect ion thatbthe property is in the same condition do they get the cashiers check.If you do not get anywhere, then upon taking title to the property, immediately file eviction and in addition, place a 2 day notice of owner to enter and inspect property.

Also thinking of having an assessment done of existing plumbing and seeing if we can be more proactive and maybe have fewer emergencies. 

If you are just starting out, then the IRS will probably consider all your business income as self-employment income and you will be assessed payroll taxes on all the business income anyway regardless of whether your wife was an employee.  

Strategies such as direct mailing, probate, driving for dollars, networking, etc. will eventually yield off market deals and these are the only deals you could find that will cash-flow in a super hot market.Second, I'd like to share a thought that is true to any type of investing, real estate, stocks etc. and that is: "the masses are assess" if EVERYONE go to the west side why would you want to go there too?  

Lot value assessed at just under 15K.Foreclosed on in 2011; appears to have been vacant since.Never appeared on MLS list.ARV: 160-180K.

It would be great if this were available in an easy-to-assess graphical form.