The software is run based on algorithms, so answering one question incorrectly can lead you down an entirely wrong path.That said, TurboTax can be great for small landlords who are willing to put the time in to learn about the tax code and ensure that the manner in which they are answering the questions will produce compliant returns.

Some who are contractors fix while the owner holds title and receives an amount as a construction fee, then sells with commissions, they earn the value added.However, buying and never touching a property, just flipping it for a huge profit can cause the prior owner to bring claims against you, someone got to someone and with a license you're seen as the expert in the room and under ethical structures in dealing in any manner with the public.

It is of utmost importance that we not only follow all of the laws, but that we conduct our business in an ethical manner.

If the area will only carry a 100K house, lots run around 25-30% of the home value.Need to know what will go there before you can value it. :)

The carrying costs will not be offset during this time of reduced income.Good luck with it!

I recently consulted a PM I know about concealed carry. 

Are you talking about marketing to motivated sellers who are willing to carry almost the entire loan?

A few other things you will need are an established realtor that will list the house at the right time and sell it fast and check comps before you buy, a backup contractor in case this other person doesn't follow through or needs help finishing in a timely manner and possibly secondary financing in case you need more money just to finish and protect your initial loan.  

I owner carry a number of houses a year and I think my least favorite part of the biz is finding the buyers.

Cool, I'm glad you took it in the light hearted manner in which I meant it to be read!