And that is split with your brokerage, and what you get is taxed as self employment income, which remember has a higher tax rate than a w2 income.Other costs with your license are mls dues, sentrilock/suprakey dues, Realtor association dues, e&o insurance, continuing education classes, possibly desk fees from broker.

It still seems like I could roughly break even on some of these properties, taking into account mortgage, property taxes, PMI, expenses, vacancies, etc., and I'd certainly benefit from the relevant tax incentives and would be earning equity, which is great—but is that enough?

Not to mention the taxes on condos are much lower than single-family homes especially in the Chicago area where I am at.

In FL, I believe RE sales associate can form business entities for tax purposes but it must specifically be the name of the person such as: John Smith, LLC.

My question is Are there any tax breaks with purchasing a home.

Also, you get taxed as a short term capital gain which eats up a ton of profits.

There will be very little actual equity in the house if I borrow all the money.If I only borrow 110K, my monthly principle, interest, taxes and insurance ( PITI ) will be $745.

I'm going to check out the attorney Page Allen since my property is in Virginia.Does anyone know the answer to this question: If the title is being transferred from one LLC to another with $0 payment or sale, will I be subject to be paying transfer taxes?

Use missing persons search for the owner listed in the tax assessors website.Read in the BP marketing forum!!

(I Only make 22k annually after taxes and I am 20)