If you can rent it and you only use it for short periods of time through the year, then always rent it and never buy it.The only exception would be if you find one of those things at some subterranean price, and you can afford to have the place/toy sit idle.

If u have a sit down with them after u purchase the property and let them know that if u don't receive the first pmt on time u will immediately evict because of their track record they may get their act together.

Now, if you were going to be wholesaling or flipping your income would likely be deemed active and you might benefit from paying taxes at the CCPC rate.Again it is a matter of sitting down with your team (accountant & solicitor) and determining what arrangement is best for you now and how you will transition to a different organisation in the future.

A house sits on one lot that we're going to rehab and resell.

I also know that finance examiners don't have their noses in files all day, I recall the last hour of most days being pretty slow an unproductive.

Can't recall a seller disappearing, they may not answer calls.Two options; walk away or sue them for performance.

You might not have $70k cash laying around just yet.If the numbers all check out, and it's truly a 60%-of-ARV deal, there is enough meat on this for you to come out whole under all but the most adverse of circumstances that might occur (i.e. bankruptcy, lawsuits going back and forth while property sits vacant and gets vandalized, etc.)Also, it's a great opportunity for you to learn the rehabbing business.

Don't really recall, been awhile, like 250/300 a year, the broker pays more too.If you're considering, you'll have about the same average costs for continuing education and required training by the locals if they do that in your area, I know not all do

That is, you would sit on an empty for 6 months.

My family and close friends were very skeptical of my first flip, however I'm now done with it and it's sitting on the market at a price that will net me around 30-40k before taxes.