He is getting his pay as 15% of the profit on sale so he gets paid when we do, so he's motivated to do the job well and on-time and within budget.

I thought of partnering with family, but then thought of how much it would eat into my profit.

.* Section 8 tenants will typically stay in your unit longer, and as we know, turnover is the ultimate profitability killer.* Finally, he said that he writes it up in the lease that the Sec 8 tenant must act as the liaison for all dealings with their case worker, etc., minimizing their administrative time spent.

With a large building your management costs are lower than a portfolio of single family homes all around town, and your more protected against vacancy, because even with 1 or 2 units empty others will still be providing some cash flow.If you want to be more active you could buy a single family home at a deep discount, rehab, and resell for a larger profit but this requires much more involvement.

I believe that there are enough deals / profit / money for us all to be wealthy.

Hey Guys,A smart investor would not attempt to calculate profit on a property based on appreciation, but taking that into account, broadly speaking, would it be a better move to invest in a market which has seen a large drop in prices such as florida/california, would a more linear real estate sale history of some of the more northern states in the US which have only seen small gain/losses be better?

This past year was my first year and I've learned a lot, but still just barely broke a profit, and not a big one, either.

Perhaps offer a guaranteed interest rate on their money prior to you taking a profit, than an equitable split on exit.

I look forward to speaking with, meeting and creating relationships with many of you here in the weeks, months and years to come, learning from the experience of and contributing to the success of others via meaningful collaboration as well as successfully fulfilling short and long-term REI goals that I've set.To an amazing, tremendous, exciting and profitable string of future yesterdays...

The CPAs I talked to mentioned it would not offer benefit with LLC due to it needs to be maintained paying $800 fee plus a tax of percentage of "Gross sale"(in this case total dollar amount of the property sold for, not profit I made on the sale), he said it's roughly $2500 for $500k property.