Plus, in my defense, I was only a part time employee.

I know this is an old thread but the information posted by @Paul Sandhu on this post (as well as his other postings) is very helpful and has gotten me interested in exploring  STR's for contract employees at the refineries and plants located to the East and South of Houston. 

@Craig CurelopThe qualified first-time home-buyer is up to $10,000.https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distributionsFirst-Time Homebuyer ExpensesDistributions from IRAs to pay for qualified first-time homebuyer expenses may be taken penalty free (IRC Sec. 72(t)(2)(F)).

@Patrick Philip That doesn't cover anything related to workers, only worker's compensation insurance does, plus you are violating irs laws on employer/employee including but not limited to independent contractors, witholding, etc. everything is a liability policy, there is commercial general liability insurance policy, worker's compensation insurance policy, excess/umbrella insurance policy, automobile insurance policy, pollution liability insurance policy, professional liability insurance policy, installation floater insurance policy, etc. be careful and good luck.

If I was your (new) employer I wouldn't be too enamored with a relatively new employee taking calls for a side business during work. 3.)

After years of managing employees and organizations, I have concluded that money only motivates someone to show up in the morning.

Why would a single filer full time employee for ABC company making 100k per year in the 28% tax bracketEver want to becoming self employed and have to start paying self employment tax? 

We are looking to expand and want to rent an office space where we can have employees go, receive deliveries, store equipment, do computer work, etc.

We really just want to be in a position where we don't have to work, we choose to work and do not have to be someone else's employee.

Also the Board officer, who is a Bank employee and the owner of the majority of the units in the condo place, is very much interested in the vacant unit.