I'm leaning towards rentals, but right now we're basically living paycheck-to-paycheck, so I need to learn a way to get into r.e.i. w/ little or no money out of my pocket.

Priced to sell, I should be able to get $130K, so basically, I'm looking at bringing $10K-$20K to the table.

What I ended up doing was becoming basically self employed in the rehab business to feed me with something a little nicer than beans and to pay little luxuries like utility bills.

They put on classes for basic stuff like painting or tile.

Basically, my question is how do I report business income/loss on my personal return when there isn't an actual business entity?

It basically seals in the odor.

That included gutting to the studs, joists, re-plumbing everything (tub and toilet were re-located), re-wiring, insulation, moisture-resistant drywall, new window, new basic tub, subfloor, underlayment, fairly cheap tile on floor and tub surround, sink/vanity from lowes, basic toilet, paint, etc.

It was inexpensive carpet, but it is all documented, and he lost his deposit, plus is in the process of getting a judgment against him for the balance.A TRUE professional carpet cleaner MAY be able to salvage it for you, depends on the basic quality and age of the carpet.

They are relaying information over as you get it to them, and unfortunately it seems all ther pertinant information gets lost in translation.On some occasions I have been able to figure out who the investor is and make direct contact, this often has a very positive result, but is a painful, arduous task (biggest issue if you figure out who it is will be getting the proper authorizations, works better with smaller banks and hard money lenders)

OK, I think we covered the basics.