If you have the cash, shop around and fix it now and that's one less thing you have to worry about down the road.

@Shawn Moore It's been several years since this thread started and I will amend my previous comment to say that I have had several investors come through The Shop that had been to this and they had a really good handle on things.

Just cutting the child a check without issuing a W-2, without potentially reporting on the applicable Form 94x series (and state equivalents), without having a completed I-9 and signed contract on file...if I was an IRS auditor I'd deny the deduction, and claim the checks were gifts, and you'd have a very hard time proving me wrong.Unless the child is going to be working a lot in your business, the juice may not be worth the squeeze here. 

Here's a question I want to put forth regarding my getting pre-qualified.Presently I'm putting the pieces in play to buy a duplex property or single-family home where i might an ADU in back to live in while I rent out the main house.This will be my first deal that I am seeking a loan from an institutional lender.My credit score is outstanding (820+) but I don't currently own any real estate.So my question - We often hear BP investors talk about the importance of meeting local lenders, credit unions, etc. in order to develop relationships with these local lenders.Since this will be my first deal in my name, am I better off simply connecting with a good mortgage broker rather than going to several lenders directly to shop for the best solution for me?

Feel free to drop a message if you ever want to talk shop.

Just keep in mind that underwriters of banks looks back 90 days of bank account activities and wants to know about large deposits , so keep records of you withdraw of your 401k it makes for more paperwork and time or just pull the money out months in advance while you are shopping around for and banks, homes and agents that fit your needs.I've done it plenty of times and depending on the investment pay it back years earlier

Take advantage of the strong sales, buy multiple properties somewhere else, and enjoy the gift.

We have them in one of our homes that goes through a lot of towels and sheets.That said, I was recently shopping for a stacked washer and dyer and Speed Queen was more than 2x the price of the GE one and has a 2-3 month wait at the moment.

We shopped for other lenders but there's so many; we have pretty much decided it's not worth overpaying for higher priced property and to wait it out.

That way when you are able to start seriously shopping around, you already have certain questions on your mind when evaluating and negotiating.