I personally believe that this is still a sound business idea if executed properly, however, whenever I talk to family and friends about this, most of them "down" this idea saying that there is no money to be made.

With my 50th birthday approaching I've decided to take it to the next level and hit it hard even in these weird economic times. 

Hi everyone,Can someone recommend me a professional that can set up a nice-looking website for my Rea Estate business?

For Euclid you must have a local PM : Per E.C.O. 1761.02(b)(2), if Owner/Corporation resides outside of Ohio, Owner/Corporation must provide alocal manager who resides in or has a place of business in Ohio.

Most people would say to me now, "Banks are not in the business of owning real estate."

As a business owner and with my wife being a physician, we have found a shared passion for remodeling homes and unintentionally turning a profit with our past properties.

We are looking for a firm that is familiar with multi state partnerships that can give us legal advice or set up our business correctly from the start.

If this is mandatory, I can't think of a dumber business move.

Just wondering if there are enough workers and companies to support the business and real estate in general.

Emphasis in your original post, -No authority given.The other tax professionals who replied, offered varying rationales (some citing; the totality of the circumstances test, or constructive receipt, or economic performance test, transferee liability, economic benefit,etc.) and a few pros offered rationales similar to yours (“if you're renting property you're controlling that's your income to report”).