Account ClosedI did a few years as a Lowes sub.

@Eduardo Quintana,http://dornish.net/Is involved in the Real Estate Industry.Raymonf

I have a good accountant already.Also looking for alternative financing.I can offer some very good tips on how to fix your own credit if anyone is interested.I am not a credit repair company.

Again, not cash flow to retire on, but think of it as an investment account with pretty hands off management.Also, the fact that homes sold lower and were then rehabbed may actually help you out in 5 years if the finish level in the area was brought to a higher standard.

I am going to assume you don't declare that income to the IRS on your tax return and pay the proper amount of taxes on it.If it is not on your last two years of tax returns,you will get no credit for it from the traditional banks and lenders which means you ability to borrow money will be based solely on what little you do declare and have taxed properly.Your savings and checking account s and stock holdings are irrelevant,only your verifiable monthly and yearly income.Your only choice would be a hard money lender at an enormous interest rate.

Depending on your self wealthiness, you might ought to form some type of corporation or a LLC.You might ought to get some advice from an attorney and/or a CPA (or a tax accountant) on this matter.  

You can control some of the air flow with the register handles, but the real way to do it is as Account Closed

Account Closed  I am finding that out.  

This will involve actually knowing the city, or driving around those parts of town to become comfortable.3) Determine your holding period - if you want some quick equity, you can buy a place with some value add opportunities.

I'm looking to get a better broad picture of what is involved with being a landlord, and would obviously also like to pick your brain about the process and lessons you've learned.