Between my wife and I, I think we have contributed about $35,000 to our ROTH IRAs.

Since discovering it few months back, I have learned so much from all the people who contribute here so selflessly!

You'll learn a lot, contribute, and most of all, be able to network/get to know investors all around the country (even world).Hope to see you more around the forums!

I hope I can contribute to BP and look foward to meeting you all.

I hope someday I will be a will to contribute to/help others on this board.

New to the forum great site with lots of info glad I found it hopefully learn some things and contribute

You cannot contribute your labor to anything the LLC is doing.

They are not going to fall for the notion that a $43k purchase plus $5k in repairs yields something actually work $80k (because it almost never does, but that is another thread.)Your buyer also won't be getting a USDA, VA or FHA loan, or any state low down payment loan either.So max loan in the area of $32k-$36kSo to sell it to them at $80k, they need more than $40k down.The problem then becomes getting a mortgage for $32k, which is below the minimums at literally every single lender I have found.As Jon said, if you honestly believe it is worth $80k with $5k of rehab, buy it yourself, put the $5k on a credit card, and sell in 6-12 months (depending on seasoning requirements.)

Thank you all for your feedback.Mary,Have you contributed to or loaned any money to the corporation?

And while a lease and option transaction in excess of three years IS a contributing factor in that determination, it is not the only factor.To determine whether an arrangement is a lease-option or a sale, the IRS examines all of the facts and circumstances surrounding the transaction.