She and I talk about investing everyday and she said "Listen next property I come across in 60k-80k range, I will finance it in my name, put both of our names on the house and we will paint, put laminate floors in and sell it in a few months and split the profits" ..She Obviously went more into detail but the only reason she is doing this is to help me get into it..

Our non profit organization provides preforeclosure sale, and preforeclosure short sale training & support to real estate agencies' brokers and brokers' agents.

ALL the profit must roll into the next property?

When you're ready to sell, you won't make the same profit you would have had you done it all yourself, but in this case--you can't do it all yourself.

But with short term rates so low anyways, those aren't **too** big a factor.Still, add it all up, and there is a basic 'flip' cost that seems to be around 10%.This means that to make a profit as an investor, the price gap between what I pay and what I sell for must be perhaps 10% + fix up costs (call that 10%) plus profit (being VERY conservative, let's call that 5%).

All the profits or losses of the LLC flow through to your personal tax returns.

But also, we do not want to reinvest all the profit.

I took a high interest loan with the intent of flipping the home and making a big profit.

I do work at Keller Williams, the nice thing about profit sharing at KW is that you don't have to participate if you choose not not.

There's too many completly legal ways to make profit.