The members of an LLC are issued K-1 Form and have to pay taxes on all profits as though it were income, which could expose the owners to high employment taxes.

If you are new to SC you need to know your taxes.  

I work at a VA Medical Center so I'm well aware of what he gets each month (tax free). 

Like the old-school feel of excel :) 2) Keeps real estate transactions separate for tax purposes3) Easy to fill in expenses and income on a monthly basisIf anyone has any tips, or even an excel template they would be willing to share, that would be extremely helpful!

BTW, my monthly expenses are all encompassing - any mortgages + insurance, taxes, vacancy allowance, capex - but not taxes, since those are (largely) offset by itemization.

Account ClosedHi Brianna, just checked out your profile and saw you work with tax delinquent properties and sheriff sales.

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Tax Sales/AuctionsSee who is bidding on these properties, and try to talk to them after the auction is over.

I have excellent credit but I work overseas (i have tax returns but no w2s)-- would that be an issue? 

The assumption is that there are multiple years of tax returns and income statements to show that it's being operated profitably and with a comfortable contingency.