The only thing I know I would be weary of is that we have tons of Joshua trees around here and they are protected so you can't cut them down.

Read this blog post from @Joshua Dorkin (btw, great post Josh)The Real Estate Agent’s Ultimate Guide to Working with Investorshttp://www.biggerpockets.com/renewsblog/2013/08/24/real-estate-agents-working-with-investors/It will enlighten you and best wishes on your real estate investment journey!

Welcome to BP Joshua Dawson .

Joshua Dorkin is probably trying to get at if we only had $5000 and wanted to start in the REI business, what would our strategy be, is that right Joshua?

Thanks Joshua.

I can see the logic for the S corp election to minimize the impact of SE tax...if #2 were correct (as it would for house flipping).My CPA has done an admirable job thus far (I used him last year for my personal tax and this year since this is the first year I've owned a real estate investment), but I fear his experience in the subtleties of real estate taxes may be minimal; something that I will have to address.Oh and Charles, I just saw your video interview with Joshua on this website.

Joshua Dorkin This is an awesome question and would love to hear peoples thoughts on this.

@Joshua Nudell it would be extremity helpful for me to see someones numbers for an example.  

As Joshua D. mentioned, it depends on whether it is customary for your market or not. 

I have read how to invest in real estate by Joshua Dorkin and Brandon Turner and I am now starting to read the book on rental property investing.