Do some reading here and learn to understand the rental business, its costs, and potential profits.

Quickbooks may be a good option unless you need some of the features of a larger enterprise accounting package.

Yes, you really can set up a successful (profitable) BPO company without putting in long hours. 2.

http://irsdispute.blogspot.com/2008/01/flipping-houses-reporting-requirements.html http://moneycentral.msn.com/content/invest/forbes/P127519.asp http://www.justanswer.com/1099/kucl-husband-started-flipping-houses-year http://en.allexperts.com/q/Tax-Law-Questions-932/house-flipping-taxes-1.htm If you can be classified as a dealer by the IRS you must report the flipping profits on Schedule C which is subject to self-employment tax.

now if you were selling the assignment for say,,,,5 thousand more for the profit, then at closing you get your 5 thousand (not including the thousand you already have as the fee or earnest money) the assignment fee. so thats 6K altogether!!

This means some took checks to closing to sell a property and walked away with nothing, no profits, no write offs, nada.

Crediting $200 per month to the purchase price does not help you as the seller and, in fact, reduces your profit at the closing table.I have had great success in having the following:* 5% lower house rent than my competitors (its taxable income any)* Extra Option payment of $300 per month (tax deferred as per IRS IRC 1234)* Guaranteed up to (2) 12 month extensions if financing fails (rent is increased by 5% next 12 months).* Having their Option able to be "marketed and sold" by TBers at their own expense if there is either a family emergency or job transfer (needs to be proven)IMHO, people that 10% into a property will get financed better and easier than No Money Down or 3%.

now i know that it never ends up being 80K but that still sounds like a nice profit.

Remember to submit a payoff demand to escrow.If your profit is large, share some of it with the seller or use another method.

Minimum investment is $50k Due to the soft market we are able to take advantage of another developers failed attempt to turn a profit and we can together enjoy the benefits.