Can I simply do schedule C for my wholesaling profits using Turbo Tax or something of that nature noting my profits and expenses?

Unit A - Occupied since Dec 2012, and are on a month to month, paying 795/month, which 55.65 is taken out for management fees.Unit B – Vacant ($675/month when occupied, which 47.25 is taken out for management fees.)Unit C - Occupied since October 2013 and expires in October 2014 paying 795/month, which 55.65 is taken out for management fees.Unit D - Occupied since March 2012 and lease expired in March 2013.

This area, while in the Independence school district, is less than .25 to Lees Summit and .5 miles from Blue Springs, with comps in the area ranging from $110 - 150 depending on amenities and sq ft.Ruskin, Raytown, the heart of Independence are more like C- or D neighborhoods, with sales prices of around $50, and CoC's of around 20% even after maintenance and vacancy.

This would be done on your tax return on schedule C.

That makes no sense.In 2013, CAP rates for stabilized Class C property in Miami (the most expensive property in your state and quite near the most expensive in the country) were in the 6-6.5% range.

@C HarperThis end buyer must be familiar with and seen a GFE (good faith estimate).

I have been reading about a,b, and c neighborhoods on two different posts as i browsed the forums today.

Thus you'd need to find opportunities where promoters are willing to take the heightened risks and costs associated with raising money from accredited investors.Many test-the-waters campaigns are really designed to solicit interest from the broadest possible audience and weed out the non-accredited investors in favor of a 506(c) raise because of the way the gov-mint is designing the rules.

@Paul Olesen The duplex may help in several ways: a) Place for you to live b) Experience as a landlord (or hiring a property management company) c) If you buy a duplex that needs rehab, you'll have some rehab experience What about this partner?

Josh C. ....You can use metal threshold for entry..