Wayne you are treating it as a deposit or earnest money.

While he is a family member he is treating this like a true business opportunity.

It really narrows it down to wholesaling being treated as a business (self-employment) rather than as an investment.

Charles, You really don't need a general contractor, Find you a good licensed and insured remodeling contractor, treat him right and and pay him right, you will have a good reliable trustworthy person/company to build a relationship with and make lots of money...Zack

How's the SoCal rehab market treating you?

Rental properties could be treated as disregarded entities, that would mean you would not have to do separate tax returns.

@joshua dorkin Well, I hope LA treated you well.

I would treat the dog as your treat pets.

@Steven Hamilton IIFrom the lenders point of view, what if the note (or JV agreement) calls for a cut of the profits on the back end, in addition to the note interest, is that deducted same as interest or is it treated like earned income as it would be for the reahaber?

@Dave Carpenter - a little more about this property - this is something I'm treating as a learning experience.