Successful people treat the deal as a business transaction to maximize profit.

And, that may be unique to Mo.Part of why I posted the thread, state issues are different, since the inception of these corporate hybirds, each state has had proceedings with various issues and what may have been adopted and precidence may vary state to state.I like to error on the side of caution, if I want my company to be treated with the liability aspects of a corporation, wanting it to walk like one, I like to have it quack like one so it will be seen as one.I'd like to hear some legal minds address these aspects as well as some tax authorities as I know the treatment of the LLC goes beyond a simple declaration in some matters.It is odd, that in Mo. anyway, they mention referring to single member LLCs that they may address such in the plural, in other words to say the "Members of XYZ, LLC" is correct even though there is only one member.Not arguing here, I understand the different points of view and agree with variances.

I believe we all started that way so let's encourage those wannabe's with good information here at BP.I have said this many times wholesaling is no different than any other business and should be treated so with honesty and integrity and doing the right thing.

But she could open her own solo 401k which is not cost effective.You can treat the profits as 50/50 in this case if you are treating it as a join venture, then you will report the income on two Schedule C's.

Ben,As a REALTOR in Tennessee i am embarrassed to hear about how a fellow licensed real estate agent treated you.

Treat it as a business relationship.

This is a serious business and should be treated no different than any other business you want to be successful in.

I'm assuming upon walkthough I should treat it like a normal rental walkthough and document everything with pictures and have them sign off on condition?

Jeff,I have very good success by hiring a retired husband and wife to run the complex and give them a small salary and a free apartment, and they will go the extra mile for you and treat all tenants with respect and most PM do not live on property, and they lose control with everyone.

Here is my plan thus far:I will treat myself as a hard money lender.