An assignment clause in a contract is extremely common and is even standard in most commercial contracts.

Or, would it be better to just not operate under a business name and just claim the money on my taxes.I am also concerned if I file a dba, that I will get over taxed.

I plan to buy them extremely low...It wont make me a millionair but I know the rents and I figured I can bring in a decent positive income if I buy them low enough.

Now my concern is what happens when the cheap stove/fridge breaks down?

I am already prepared that school is going to be extremely hard and my life will not be loads of fun for two years.

Now I'm confused (and concerned)

Sorry, my mom is a Shakespeare buff and she would be proud :lol: So I was just about to go to the County Courthouse to file for an Assumed Name(DBA) but now I'm considering starting an LLC for multiple reasons and I'm curious as to what your opinions are.A little about me:I have not yet done a dealI have been studying for some time and I'm ready to get startedI have every intention of doing this full-time but I will not quit my day job until it's a realistic possibility(1-3 years)My only assets are my house which is homesteaded and a car with 100,000 miles and serious hail damage so I'm not concerned with asset protection at this pointI am interested in wholesaling/rehabbing(rentals in the near future)I have $10K-$20K startup capital I will be using Hard Money for my first several rehabsI have excellent credit (771)I am now thinking about starting an LLC in Texas(one-time $300 filing fee)for my rehabs because I want to build up business credit and season my company so I figure I might as well start now.Once I acquire rentals I will definitely setup an LLC but that is not an issue yet.Given the information, should I form an LLC or just do my first few deals as a sole proprietor and then get my LLC?

My only concern is applying the 50 % rule with the max. rent for both is 1400.

Do you have any questions, concerns, thoughts on the topic?

As far as investment is concerned, it is better NOT to do something than get into something you don't understand--same goes with flying an airplane.