Hello all,I have a lead on a lot located in SE Atlanta 30317 with a lot of potential. 

I am a fellow engineer here in SE Michigan now, but I am a Buckeye!!!

I need a cleaning crew in SE Oakland County for a house.  

Don't want hard money per se.  

Greetings from Milwaukee WI, I'm currently renovating my 2nd duplex in SE Milwaukee (Bay view) The 1st I sold off the to get something bigger & better.

Note that I haven't closed with them (ending up going another route on that transaction).Lynn RiveraDesignated Escrow Officer, LPOEscrow Services of Washington, LLC14205 SE 36th Street, Suite 100Bellevue, WA 98006Tel. 425-242-8026 | Fax [email protected] BerryDes Moines Escrow Inc22024 Marine View Dr S # 201Des Moines, WA [email protected]

I also make it clear that if the money doesn't hit the bank then I do not recognize the payment, and my property manager never has to touch the money per se (She still chase payments if necessary though, but just chase them to go to the bank to pay, rather to pay her directly)There are times where tenants will oppose to this idea.  

If you do not have a partnership agreement and the assignment check was made out to you, you will have to 1099 your brother for his portion or you could end up paying the taxes on it.Your assignment fee will be taxed as ordinary income and could be subject to SE tax.It's hard to provide specific advice without knowing your whole financial situation, but I can recommend that you save some of the proceeds in a separate account for taxes.Let me know if I can be of any further assistance.Good luck on your journey and I hope this helps.Ed

If you intended to flip a property, but hold it for ten years, profits will still be subject to ordinary income rates and SE tax.

Pick our a standard Earnest Money or purchase contract... it will be fill in the blanks.2. fill in the blanks IE purchase price  who is buying who is selling and settlement date.3. get it signed and e mailed back by seller.. 4 walk the contract into a local title company and have them process it like any other transaction.pretty simple as you said.. or find a simplithetic realtor who will take 30 mintues with you.I don't know FLA RE law per se the disclosures are usually on the onus of the seller not the buyer so you probably have no issues.. but again a RE broker should be able to answer these questions in 10 mintues