You find distressed properties and sell the contracts to investors for a fee.Partnering: Partner with investors who have capital.

Raise fees on building permits, give tax credits on renovations.Suburban sprawl really hasn't been a good thing for the US.Of course, it's all about supply & demand.But, if you can figure out why more people want to live in Hazel Park (leading to teardowns & rebuilds) versus south Warren or Eastpointe (nothing happening) then you can make millions.

Many people in the past few years that were simply raising money for funds or syndications, are now in serious legal trouble.

The first house I bought, I lived there rent free, AND mortgage free, while renting rooms to other people.

However, the property’s cost basis (what they originally paid) carries over to you, meaning if you later sell, you may owe significant capital gains tax on appreciation.Alternatively, selling the property at fair market value eliminates gift tax concerns, but your in-laws may owe capital gains tax on any profit.

Throw the junk in a dumpster, and keep or sell the things of value to recoup your costs.I never want to sell anyone's belongings.

Would people say your underwriting was good or bad?

Approximately 75% of our communities have a population of less than 10,000 people.

To reduce taxes, offset gains with selling expenses (e.g., commissions, fees) and consider a 1031 exchange to defer gains by reinvesting in another property.This post does not create a CPA-Client relationship.

I always find it interesting how people start and what they learn from their first deal.