I think I would get alot of joy out of working with my sons on a duplex that maybe I should have stayed away from and my children and I turning i profitable.

yes, the 4.5% fee hurts, but if you plan to have a lot of profit from other properties on that year and the next, you deduct that fee on taxes.

He will basically just put money into my account and I will purchase property, do the rehab on it and then when it is sold we will split the profits 50/50.However since everything will be in my name it will look like I received all the profits at the end of the year when taxes are due.I know we can set up a partnership or create an LLC where we are both the owners....but he does not want to do any "extra" work.

However, one of our 2 bedrooms (that turns over much more slowly) is an SFR and after 9 years has yet to generate any real profit.

I plan to use any profits from the flip to add to a down payment on another buy-and-hold.Lastly, remember: there are always two sides to your income and expense equation: Your Income and Your Expenses.

This would give the investor a profit of 550,000!

The other half pays the principle and interest payment - whatever is left over from that half is your actual profit.Based upon the 50% formula, what is your actual monthly profit?

Enough to pay the actual dues and some expense.If all else fails, we will be pay the full amount because this deal is profitable enough to handle it.I appreciate all the help!

I've heard that commercial re investing is much more profitable than residential.

This would cost more but if you crunch the numbers on what your end profit would be after closing costs, you might end up with a bigger end profit.Hope this helps a little!