I posted this in a different thread, but I'll add it here as well:If your business made payments to an independent contractor of $600 or more during the course of the year, you are required to issue a form 1099.

Being in project mgmt. you have probably have great time mgmt. skills which will help out a lot.Hope this helps and thanks for reaching out-You have a colleague request on its way, It would be great to have you as a local resource.Please feel free to reach out with any additional Q’s.

Andrew You have to factor things like:- vacancy- property management- repairs and maintenance- replacement reservesin addition to the usual PITIA (Principal, interest, taxes, insurance and assessment).

Is it the benefit of having to do quarterly filings with the state?

• Addition costs (additional bedroom, bathroom, etc.) per square foot?

One of those things would be to form some type of entity that will protect you personally from filing or a judgement you might have against you or your business.Never try to do everything yourself unless you have the talent.  

Additional info: $5000 profit for me and selling to a flipper with a $20k minimum profit.

Do you need a guy to file probate, quiet title, foreclosure defense, commercial litigation?

In addition, I am currently studying for my CPA and I am considering what area I plan to be a specialist in.

If you are wanting to add more properties, it probably makes sense to pay the regular payment and save additional cash for other opportunities.