Since I own my own company I get all of it except what I might choose to share with some of my employees.

@Mike PolizziIf the 401(k) funds were used to improve the land already owned by your parents, this would result in a prohibited transaction because the land is already owned your parents.To learn about the prohibited transaction rules, see the following:https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-prohibited-transactions

Think of them as an employee in the sense that they would need to be carefully vetted, and would only receive payment on rent collected and not rent due for management of the property.

@Jacob May This is a common question for many clients I work with that are not employed as a "typical W2/salaried" employee.

@Antoine Martel@Alexander FeliceAntoine and Alexander,I am a W-2 employee is business development and in my job I travel to Las Vegas several times a year.

Is this an employee you anticipate hiring?

Loved this episode, always cool to hear how BP employees got their start and what niche they have found.I’ve always thought that ideally you have 3 places in rotation at any given time...1 that you are in year five or six of ownership that you are looking to sell, 1 that you have renovated and lived in for at least 2 years and 1 day (and have a HELOC open), and 1 you just purchased and are fixing up with HELOC from #2. 

It needs to be tailored to things like form of investing, total value of assets, the assets of the owner, the number and type of employees,  even the tax status of the owner, the method they plan to use to pass assets to the next generation, etc. 

It's going to be difficult to find very reliable full-time maintenance employees for that low of pay.   

Hey Howard.yes i did.With all the fires and need for contractors now those guys are booked for a year.Ask me how i know....Just remember with contractors they typically have a “shelf life”I have come to the conclusion in the bay area and surrounding areas if you want a contractor for a long period of time you need to hire them as an employee and keep them busy.