And we haven't even talked about union pressures...We need to be encouraging young or unemployed people to pursue these crafts and combine them with a business acumen.

I encourage you to take the time and do a search on "cap rate" right there on BP, you won't be disappointed.

@Marlen Weber Thanks so much for the encouragement!

@Alora Glaze - thank you for the detailed advice and encouragement!

It does produce a form called a K-1 that is sent to the IRS as part of your personal income tax filing.I would echo what @Tyler Weaver said and strongly encourage you to speak with a CPA.

I have always seen Buffet as the ultimate realist, so his silence is not very encouraging.

I try to live by this philosophy A foolish man makes a mistake and does not learn and repeats the mistake.A smart man makes a mistake and learns not to make that mistake again.A wise man see other makes mistakes and learns from them how to not make those mistakes in future  I hope that some will help make me wise!!

I believe in the Mastermind philosophy.

Disclose the inspection report and strongly encourage people to write an as-is no inspection offer since they already have an inspection report

The broker will encourage you to do open houses.