Otherwise it can get complicated as you really are putting buyers and sellers together, facilitating sales.You need to read your state statutes very carefully word for word as to what requires a real estate license and then don't do those things if you don't have a license.You can be an employee or memebr in a LLC that buys or sells, as a principal, in other words if BAC LLC buys a property and you are a memeber of BAC LLC, you can then be entitled to profits for the work you perform in that LLC.Another way is for you to take an option to buy and then sell your option, this is placing you in a position of havine an interest in the transaction, but those you sell to may have financing issues with this, it also depends on property restrictions or title limitations as beeing seen as sales during a restriction to conveyances, again check and see how these issues are viewed locally.Generally, you can not act as a third party between a buyer and seller and simply arrange or introduce deals and be paid a fee independly as that is a function of a real estate agent/broker.Lastly, it's easy to get a bad reputation amoung Realtors if you're known as a birddog, they will likely see you as unlicensened competiton and expect them to complain and report your activities.

Form an LLC bank account and just pay out at the end of the year or could we do it monthly as long as we are cash flow positive after bills?

What are some of the trick successful people as yourself seek when looking for cash flow positive properties?

However since this is a SLO, you'd want to file a Memorandum of Option with the county courthouse to protect your position.

I understand basics such as cap rates and dscr but I want to put myself into position 2-3 years from now to start acquiring properties when my cash flow permits.

I'm in a different position so I try to put it in perspective.I did go overboard on my finishes in my condo but I was rehabbing it for me, not as a potential rental property.

If its positive, add it to the total income.

On a positive note: The HUD house is not in a particularly bad neighborhood.

Journal is indeed positive, is it too premature?

I have overseen over 1,200 units as a commission of a large PHA and I cut costs and overhead and had some significant maintenance/improvements made, hired an attorney on staff, acquired other properties for expansions and brought the PHA to a well performing rating, don't get me wrong as if I'm taking all the credit, there was a great staff and excutive director that I put in there that was amazing and they get the credit, but I stepped into that appointed position and had never owned 100 apartment units at one time!