Multi-unit Property AvailableNorth Cental Texas, near major universityFinancial Summary Proforma Year: 2009 Scheduled Gross Income: $185,760 Effective Gross Income: $185,760 Operating Expenses: $108,659.84Net Operating Income: $77100.18Tax Rate: 2.39%Unit Mix Information 1 Bedroom/1 Bath No.

I am first time buying, so I have no experience on this at all.The house is a Hi-Ranch with 3 bedrooms and 2 bathrooms with no basement.

I'm far more interested in completing my project that whatever annoyance you are gonna bring me" double WooT!

I have a property under contract, and another wholesaler came to me and let me know that they have a buyer for the property and want me to sign an option contract.So basically I am double assigning the contract correct?

I do what is called A to B and B to C transactions where I do double closings with acquistioin funds by buying properties all cash and selling to end-buyers all done in the same day.

I've used flex options, but I didn't like them because if the end buyer is using financing to buy the property the amount of cash he has may be limited which limits how much you can charge him to assign the flex to him.Drawing up a PSA between you and the wholesaler doen't work if the wholesaler is doing an assignment and not a double close so I didn't find that method helpful.

The house we have for rent is a beautiful two story, brick, four bedroom wood floors colonial with fireplaces, spa tub, etc.

The "stimilus" package has nothing to due with stimulating the economy itself but is really the governments best guess of how they can prevent having to spend this money later.If they were to let things be more companies would have folded (or at least called it quits) and the government unemployment rolls would have exploded so drastically that they would have easily have doubled the monies they gave away in unemployment claims, food stampt, and all those other programs.This is what I believe is the real drive behind this and the government is going to get a little upset that their ploy did not work and take it out on those of us that have found a way to make money.

It is working fine but will get the parish involved to double check.

So, income inside an IRA from an active business, or from debt financed rentals is subject to double taxation.