Its great interacting with all of you folks, its like making new friends.

It's a highly inventive version of it, but ultimately, it's a blue-plate-special of rock-through-window=get-out-of-lease served with a side of pervert-and-porn.Another way of saying this is that the OP has made an extraordinary claim, and extraordinary claims demand extraordinary proof.

I know, interact, and enjoy my relationships with a few wholesalers but one can no longer receive blind honest help from me without including the seller in the conversation.

@Joe FarkasWelcome to BiggerPockets, a place to interact with a vibrant REI group, learn the real estate business and language.It doesn't matter if you are young or old, totally new or need to build upon your experience.And since you mentioned an interest in rental, flips, buy and hold I added three links to satisfy your reading desire.http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)Yes, you have just announced a commitment to the thousands in this community about your seriousness regarding REI and have taken this bold step to affirm it.Your time on this site with the BiggerPockets community will be well spent and can be financially rewarding if you so desire.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

Inquire with 4-5 local property management companies and after a few interactions, you will connect with 1 or 2.

Be super respectful at the last two, because it's 95% contractors and they don't interact with the general public much.For interior design trends, most people are BEHIND. 

If yes, there could be an opportunity to avoid the capital gain tax.Disclaimer: I do not know how the related party rules interact with these two approaches.

Mainly I am wondering how you all structure your income / COS / expense accounts.I've got my income accounts: rent, Section 8 payments, repairs, gain on sale of assets, extraordinary income, finance chargesI've got cost of sales: utilities, HVAC materials, plumbing materials, lumber, contractors, (lots more... stuff to keep the actual apartment running)I've got my expenses: hazard insurance, PMI, property taxes, cell phone, basically all things that are related to the business, but don't directly keep the apartment runningI've got fixed assets: land, building, computerI've got current assets: cash, checking account, savings account, inventory (stock of repair materials for building), accounts receivableI've got current liabilities: accounts payable, notes payable (current portion), taxes payable, tenant depositsI've got long term liabilities: mortgageI've got owner's equity: retained earnings, owner's contributions, owner's draws (currently I am just a sole proprietor)The biggest item missing from my list is depreciation.

Thank you for your reply @Thomas DiMeo :)About your question:1)Terms for contract: 4+4 years, rent increase after the first four year based on the ISTAT (Italian National Institute of Statistics) index 2)Expenses breakdown:Local Tax: € 112.50 monthlyAssumption for small repair: € 50/monthAssumption capex for extraordinary maintenance: € 50/monthAm I missing something?

But then you get in to complexities where you're only a minority owner on a particular property and you have no interaction with anything related to the property.