Nice lot size and all.

Basically 1099s are used to report when you aren't paying payroll tax, but are "employing" someone.Hope that helps.

., one big issue is that using your model of "flipping" you will not be able to use the 1031 exchange so you need to put ordinary income tax + Self employment etc into your proformas to make sure you can still get the return you want.1031 exchanges are for property that has been held for "productive use in business trade or investment".  

I don't have a property in mind, but I would like to know if I could even qualify before doing the hard work of finding something and then getting a big denial.I've served and worked in restaurants for 3 years and same goes for my boyfriend (A little over 1 year at our current employer).

Since it was becoming winter and we needed to keep our workers employed, I told him that we needed a minimum of $10k profit.

I am purchasing a investment property. The auditor website and list says 3005 sqft. The house is 5 split level with the lowest level unfinished. The appraisal report comes with 2430 sqft Gross living area. 397 sqft fi...

Although in many cases corporations will simply buy the properties and become the landlord as well as employer.

If your relatives land is zoned exactly the same and has the same site benefits and is the same size lot then your conclusion might be good.

I have started my goal setting process however I am looking to do some more research before I fine tune them as to the exact type, sizes, and locations.1 year goal - Create $1000/month cash flow2 year goal - Create $3000/month cash flow3 year goal - Create $7000/month cash flowI know this will be a very interesting journey and I am excited to get started.

It can take less than 48 hours to verify a tenant's application if I can reach their employer and current/past landlords.I can wait that long; if the tenant can't, that's a big, red flag to me.