But they did have custom websites which made it a little easier.I always liked working with partners because we can divide the labor & cover more ground together than individually.

For rentals, that's all I look for is 4 bedrooms, if it's a 3 bdr I make sure it has a basement so I can add an extra bedroom and bath.

To the first question regarding profits, it is regarded as Business income subject to self employment taxes.To the second question on short term capital gains - Yes, if the business is a pass through entity, then it follows the same rules as our individual tax return rules.

BirdDog - these are individuals that will look for houses for a flat finder’s fee.6.

If unable to properly serve the individuals, no money judgment is given, only possession of the property.

Although, I'd reiterate that a half point is nothing to sneeze at, especially when that means extra dough in your pockets each month.

If you want to cashflow well with section 8 or something like that, then sure, bad areas can work if you're willing to put up with extra hassel for a higher % return, but, for rehab to sell, i personally would pass.

I'm 39 and work in the financial profession managing investment portfolios for wealthy individuals, trusts, pensions, etc.For quite a while, I have been interested in purchasing multi-unit properties for long-term hold.

So, I don't believe individuals should somehow be held to a higher standard than businesses that makes bad investments.

In that case, having the extra insurance would be nice as I would see equity out of the situation.At the end of the day, I can pay an extra $15 a month and cover myself better...