How would I be able to communicate with you?

So don't look at it as a substitute for good insurance or fair and legal business practices.With an LLC, you can file taxes as an S-Corp, as long as you make the designation ahead of time, by March 15th I believe.

So now we have a complete breakdown of communication and we're facing a foreclosure with the clock running down.

This IRS topic defines rental income in this way: "Generally, cash or the fair market value of property you receive for the use of real estate or personal property is taxable to you as rental income."

The building is up for auction and in fair shape but will likely need 200k in rehab.

I can come up with 5% fairly easy whenever, but 15k-20k will take up to 6 months to gather.

First off, $100 a month for repairs is fairly low.

It is only fair to request compensation for that effort.I have also worked for borrowers - including rewriting documents for no compensation - only to have the borrower inform me that another lender funded their loan request - often approved with the document that I composed.There are two sides to the upfront fee issue.

Describing your buisiness in the Articles of Organization/Incorporation at start-up is very important, (which we have done).We will just pay our fair share of taxes...cost of business.Jon Holdman : Thanks for the context.

I have found CAREI and IRR to great, but it seems to me most of the events are attended by people who are fairly new or are wholesalers or sponsors.New and experienced would be fine.