Sorry, my mom is a Shakespeare buff and she would be proud :lol: So I was just about to go to the County Courthouse to file for an Assumed Name(DBA) but now I'm considering starting an LLC for multiple reasons and I'm curious as to what your opinions are.A little about me:I have not yet done a dealI have been studying for some time and I'm ready to get startedI have every intention of doing this full-time but I will not quit my day job until it's a realistic possibility(1-3 years)My only assets are my house which is homesteaded and a car with 100,000 miles and serious hail damage so I'm not concerned with asset protection at this pointI am interested in wholesaling/rehabbing(rentals in the near future)I have $10K-$20K startup capital I will be using Hard Money for my first several rehabsI have excellent credit (771)I am now thinking about starting an LLC in Texas(one-time $300 filing fee)for my rehabs because I want to build up business credit and season my company so I figure I might as well start now.Once I acquire rentals I will definitely setup an LLC but that is not an issue yet.Given the information, should I form an LLC or just do my first few deals as a sole proprietor and then get my LLC?

My boss wants the ability to do the following things:1) Have financial statements for each particular project (your normal accounting)2) Consolidated accounting (be able to look at all properties together)3) The ability to build in different capital models to the projects (multiple investors/single investor, debt/no debt)4) The ability for a singular investor (ie: my boss) to see how much cash he has in each particular project, and all projects, see how much he's actually making in each (cash) to see real returns5) The ability to possibly include rent rolls and specific information about each project with the ability to have notifications when note payments, property tax payments, etc. are due.

So RE is so powerful because you get tremendous tax reduction benefits (depreciation, interest expenses, all operating expenses, and depreciate your capital improvements) all the while you've leveraged your investments, your tenants are paying your mortgage down for you, inflation is eating away at your mortgage, and you raise rents over time.

At this point, this is probably one of the best things I can do for now since I do not have the capital to put on marketing.REI_Kevin... thanks for sharing your experience.

I do realize the speculative side of my endeavors, I'm lucky I've got a small mortgage left on this triplex, however I have not been in this business long enough to have stockpiled enough capital to step it up to the next level, unlike the seasoned investors that I really enjoy reading here (Wheatie, MikeOh, All_cash, Tim and the others).

Our buyer will then buy it from us with cash (so yes, we will have actually owned the property for an hour or so)So, if our profit was $40K, are we liable for capital gains tax, regular erned income tax or what?

Should I purchase the home now and rent it out, capitalizing on the equity, or should I wait until I can purchase a home cash?

However, as Jason also stated, there are many factors which can decrease OE.Capital expenses are capital expenses, not OE.

If you need to be a property manager, deal with difficult tenants, drive long distances to your properties, etc, you'll probably want a higher return than if you just have to sit back and let a professional PM manage your property. 3) How much does the investment money cost you (cost of capital)?

You would need to hold the property for some period, probably a year plus.If you're planing to just turn around and sell this quickly, its either short term capital gains or ordinary income.