After going through my books, I advised the IRS the 1099 is in error, it's only $5,000 in service income, the rest is the sale of goods, with COGS of $15,000 and the IRS sent me a letter of apology.

On the loan application form, we found the No. of units on the form was mistakenly shown as 1, and also a bunch of other errors, like "property will be", "manner in which title will be held".

Okay, here's the scenario:  My previous wife and I purchased properties over ten years ago and she got them in the split four years ago.  She wants out and I want back in.  We were not very good at the landlording thi...

We have contacted the seller's agent and they responded back basically in all caps and exclamation points telling us no way they'd help, which leads me to believe something is wrong.Thank you in advance from a rookie learning on the job.

@Michael Le - Thanks for taking the time to comment, and help out a rookie!

I have only read his book on estimating rehab costs and besides the multiple grammar and spelling errors, it's fantastic.

What a silly, rookie mistake on the buyer's part.I would have your attorney tell them in writing that their entire deposit is at risk - as it should be.If delivering the property vacant is not a condition of sale in your contract, I'd get tenants in there ASAP. 

Scenario: we purchased two properties from the same seller on the same day. Houses went through probate already. We closed with title agency and got title insurance. We're now reselling one of the houses and have foun...

I've done a lot of research and have been using the trial/error process to gain as much knowledge as I can in hopes of getting my first deal done! 

Rookie question here, but what do I actually need to do to make sure I'm not breaking any laws with that money I receive every month?