I believe I have a solid rough draft on what it takes to build a profitable plan.

Then they have the option of paying right through QuickBooks via ACH, dropping a check in the rent slot in the building, or depositing cash right into my account at the bank.At tax time I can print out Profit and Loss for my taxes and get the info I need for the rent tax forms for the tenants.

Obviously there would generally be less profit for you, but a fraction of the risk.According to my last couple conversations with lenders, I would anticipate needing 40-50% of the project cost in cash. ps.

So, I am working with seller to craft a win-win-win (front-side and back-side) for all parties.ARV: $350,000.00MPP: 273,890.00Repairs: 17,500.00Potential Profit: $45,500.00Holding Days: 60Images to be added soon...

Profit is a good thing bro !

So, I am working with seller to craft a win-win-win (front-side and back-side) for all parties.ARV: $350,000.00MPP: 273,890.00Repairs: 17,500.00Potential Profit: $45,500.00Holding Days: 60Images to be added soon...

So, I am working with seller to craft a win-win-win (front-side and back-side) for all parties.ARV: $350,000.00MPP: 273,890.00Repairs: 17,500.00Potential Profit: $45,500.00Holding Days: 60Images to be added soon...

Or read some books on property management and self manage, but you’d need to pay yourself since the profits will all be split between siblings.

After 10 years:OZ is worth $110,462 at 1%/yearNon-OZ is worth $134,391 at 3%/yearLet's say you ended up falling in the 15% bracket:OZ profit is $10,462Non-OZ profit is $29,232 after taxes.And don't forget under current tax law you don't pay CG on the first $38k anyway ($77k if filing jointly). 

We got the house at a reasonable price below market value and hope to make a fair profit as we upgrade it!