Thank you everyone @Dmitry Formichencko , Paul, Allen, Ty, Derek and every onesI have retirement account Called prof it sharing.

I gave him a weekly salary and a percentage of profits on the job.  

If you're continuing in your investing career and are thinking to use the proceeds from this sale to purchase more investment real estate then the 1031 exchange is the perfect tool to let you do that and not have to pay tax on the profit and depreciation recapture on the sale.

When the tenant buyer exercises the Option to buy a few years later, generally that has bought down our underlying financing and we split those profits 50/50 as well.

As you've said, everyone has to start somewhere, and the worst that can happen in this scenario is me backing out (because there is not enough equity to profit on as I originally thought) or there is not an end-buyer in place (which won't happen to me, I have backups).

Obviously, I have concerns about the margin of debt they have, especially since a large portion is unsecured debt.

But that might be tough to do if there isn't enough profit left in the flip once all the work is complete.

Gambling profits will continue to get watered down but room occupancy and food bev numbers are great. 

Hi All,I recently lost my home in a fire and was able to sell and profit about $90k from everything with insurance money.

When this transaction is done, I will be receiving $20,000 profit thereabouts (not considering closing costs, agent costs, etc).