Pick your battles wisely.

This is hard for me because I want everything done yesterday and I'm sure you do to but I realize that I could cost myself thousands if I don't play this game wisely.

A single member LLC will be no different tax wise than you owning it personally and putting it all on your schedule E.

tenant also knew his tenant laws as he knew exactly how much percentage wise he would have to pay for the interiors repaint. and he shows up with a camera to take pictures, im like dude are you kidding me, you wreck the home and now you wanna take pics. any judge would vote in my favor if he saw the pics, in my opinion. sorry to rant, hope this all makes sense as i brainstorm everything out of my mind !!

If the spreads are equal (% wise), I'd take the lower priced property to minimize downside risk if I didn't know what I was doing.

I would also start looking for another agent to work with(in this business it is wise to always work with a couple)...I got my agents licence and then my brokers licence for this same reason...

Josh, I think Lenny's point is to say that we as BP topic starters should be and think creatively how to word our topics to induce high activety and multiple responses/answers.I do not think it was intended to be a wise crack as you gave back.I have posted a few topics with dissapointing responses and then have made topics with 5 pages of responses.

So you would save between $140 to $175 of your time by having someone else do the work.While investing is a fun hobby, it needs to always be looked at as a business.A wise man once told me this:Real estate investment success is simply a matter of dollars and common sense!

What happens tax wise if I have to repossess the house (both my taxes and the buyers)?

What was the average success rate, percentage wise and what was the cost difference or benefit?