If you elect to be taxed as a c-corp, the LLC will pay taxes as its own entity, there will be retained earnings, and you may face secondary taxation when you pull money out of the LLC as a salary.As for the 1099 question, any time you run a business (whether as a sole prop, LLC, or corporation), you should be sending 1099s to your contractors!

Any time we think a house may be more difficult to sell for some reason or may be listed at the higher end of the price range, we'll offer a $1000 bonus.If we think the house will sell quickly, we won't offer the bonus, though we'll generally give it to the agent anyway at the closing just to build a relationship and encourage the agent to bring their future buyers to our property.Generally, we won't put the bonus in the MLS listing.

Anytime you do a flip, always purchase a title binder to save you money on your flip.

I feel I could dump all my properties at any time and get back the purchase price for sure, probablly get back my full investment, and have them sold in less than 30 days.

@Jared- thank you for the warm welcome and would love to discuss business with you anytime!

If it isn't, you've got the worst of both worlds.I always say that I would never buy a property if I wouldn't feel comfortable going to it at any time of the day or night.

I'll take a bad house in a good area over a good home in a bad one anytime.

As I understand it, another thing to keep in mind if using a HELOC for a downpayment is that the lender may call the balance of a HELOC at anytime.

Full-time job allows me to leave at any time.

For me richness is about a balance in life.For me I try to get the most out of life financially,emotionally,spiritually,physically etc.I want to be balanced as much as possible in all aspects of my life.In a previous business I owned a restaurant.Great money but I was always putting out employee fires and they didn't care about the business like I did.In my 20's my cholesterol was 300 and my weight was 285 at 5 foot 9 inches tall.So I made some changes.Now I weigh 185 and cholesterol at 201.Workout and feel great,travel,work as much or as little as I want,and I don't feel like a slave to the business.If I choose I can ramp up my business more at any time but I control it now versus the other way around with previous businesses.I can show you a lot of tired,depressed,lonely,sad people that have a bunch of money.I would rather make 200k a year and have the terms I want in life then 350k and feel out of control and out of balance.Some brokers/agents tell me I will do this 24/7 and close tons of deals.I then ask them how long they have been doing it??