Now that I’m a new dad, I’m reinvigorated to reach my financial goals of generating enough passive income from REI that I no longer need my 9-5.

Hello BP Texas,Following the advise of our BP podcast overlords, GO FIND DEALS & WORRY ABOUT THE REST LATER.Ive built a monster of a lead generator, dont know what to do to close the deal.looking for a partner who would take half of my deals and show me what to do. 

When the investment income exceeds the living expenses, everything else I do (for money) becomes a profitable hobby.

We have been keeping it parked on the sideline however beacause were getting married in August and want to ideally walk away from the wedding without any debt and perhaps profit a few K.

I owned a two family which I rehabbed and which I sold in 2003 and made 200K profit on.

After Repair Value /Comps - Provide comparable sales data that confirms your After Repair ValueRepairs - Provide a detailed estimate/scope of work of the repairs that you are planning for the project.Loan Terms - Provide the financing terms (interest rate, points, holding period) you have budgeted to pay the lenderHolding Period - # of months it will take to rehab & resell the propertyOther Costs - Provide a breakdown of other costs (buying, holding, selling & financing costs) Profit Margin - Highlight the total profit & profit % you have built in the deal.  

I could understand him or anyone else saying 'that's stupid, don't pay your house off' if I was the only one living in it, but it's generating $3,200.00 and month in rental income with the possibility of even more if/when I move out of the basement.

We have a chance of an off market opportunity, with income generated from bonus room and bathroom off garage.  

Whatever the arrangement you come up with NEVER relinquish control of the deal.If you absolutely have to keep them in the deal for the long game them why not give them each 5% ownership in the LLC who will buy and when you cash out structure in such a way that you get 100% of your $$ back first before any profit is distributed.

Do I owe capital gains on any profit from the settlement, as I occupied the house for more than 2 of the last 5 years?