Actively performing plumbing work for remodels, new construction, and commercial projects qualifies as a real property trade or business under the IRS definition, as these activities fall under construction or reconstruction.

Would you pay this person for 3 hours of work if they performed this particular task for 3 hours?

We simply perform our services and expect to be paid for our work, as agreed-to.

Quote from @Charles Kennedy: Is it worth starting out with smaller non-performing notes (under $50K balance), or do you only really see value when you scale into larger pools?

The downside is also clear - more risk, less structure, and less formal training.I’m considering proposing a blended performance bonus instead of just the flat $10K.

The way to structure this is you are a general contractor and have a contract to perform specific task on the property.

My company purchases non performing loans from banks secured by commercial real estate with high equity.

Whether you are self-performing or utilizing a GC will also influence the contract management process, but a few guiding principles include:1.

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This leads contractors who agree to perform 203k loan renovations to charge more for the same scope of work as a licensed contractor may otherwise charge if the work is not performed as part of a 203K loan.