The basic FHA mortgage insurance program is Mortgage Insurance for One- to Four-Family Homes (Section 203(b)).

I have often talked to investors at my reia that say they are experienced, yet they really have trouble explain the very basics of REI and how they make money.

I also do some wholesaling, fix & flip, RTO, short sales, etc...basically whatever pays the bills.

If any loan is made in violation of that written policy it is basically a stike against them in following prudent lending practices even if it was a great loan, it's still in vilation of the way the bank said they would conduct business.

I'm leaning towards rentals, but right now we're basically living paycheck-to-paycheck, so I need to learn a way to get into r.e.i. w/ little or no money out of my pocket.

Priced to sell, I should be able to get $130K, so basically, I'm looking at bringing $10K-$20K to the table.

Everyone should read the book,"How to win friends and influence people"By Dale CarnegieThis is concept is the basis for the book and he illustrates it amazingly.

What I ended up doing was becoming basically self employed in the rehab business to feed me with something a little nicer than beans and to pay little luxuries like utility bills.

They put on classes for basic stuff like painting or tile.

Basically, my question is how do I report business income/loss on my personal return when there isn't an actual business entity?