Looking for fellow birddogs and wholesalers to share their techniques on minimizing this from happening.

I am just trying to minimize the risk by learning everything I can first.

as minimal as the price of the duplex you are buying is, what was negotiated in the purchase agreement?

Again, you don't have to 1099 amounts until the total paid out to any single entity exceeds $599 in a tax year.So you hire that guy for that amount once a year, and you don't have to issue a 1099; hire him a second time in the same year for that amount, and you will have to issue a 1099.My guess is that you don't issue any 1099s yet, but if you had been doing so already, I'd suggest the pain of doing so can be minimized with some bookeeping software.

I then saw the work (minimal) that was put into the place and the quick sale once it was on the market.

Hi all,My tenant just emailed me and said that there are termites ( must be dry wood ) running around on the walls / carpet in their 2nd floor unit.So, what would you do to try and control this problem and minimize the cost.I think I read that you must get professional help on this.There is the Orange Oil options vs fumigation ( hopefully not ).What suggestions, tips , options do I have ?

After defining the two and explaining how we want to maximize the good & minimize the bad, he stated that due to the leverage in his real estate portfolio, he had several millions of dollars of "good debt," but that he wanted to build up to a billion dollars!

A good CPA can help minimize the impact of taxes.I have friends that bring in 6 figure incomes and pay little or no tax.

Sounds like a minimal deal to me.Instead of one property you are having to look at 4 with different capital expenditures and rent levels.10 or 20% down with owner finance might be appealing with a great cap rate.The seller will need to look at money down versus what it would cost to foreclose and any personal guarantees offered before owner financing.

I'm with Marc that I really don't know the full scale of the problem (either in number of people affected or the scope of their illnesses), and am also with Marc that we shouldn't be throwing money at problems that don't exist.But, I think most of us can agree those who put their lives on hold -- and now realize that they've also put their lives on the line -- to help minimize the damage from one of the worst disasters in American history deserve whatever support that they need to deal with the repercussions of their generous service to our country.