The economics are not there for the arts.The 501 c 3 non-profit art sector was lobbied for and instituted by the likes of Rockefeller, Carnegie, and Mellon.

Or do you find it really doesn't matter it just depends on the situation. if you were to make the same profit either way and it wasn't significant then I can see that's where to use the assignment so I don't have to pay double closing fees.

Saving money on these items adds more profit for your deal.

I made a profit of 20k and I believe 2 years later the buyer turned around and made 20k.

I once partnered with a friend, we split the cost of the purchase 50/50, we contributed 50/50 for rehab costs, we share the work of managing the rental and we split the profits 50/50.

When you find a prospective property, you will want to go over the profit and loss statement with a fine tooth comb and compare it with typical investment property figures.

It was enough to get me headed the right way and many other well known investors on here that are giving back started where you and I did...here....asking simple questions.Also, some mentors may be willing to help if you guys split profits on your first couple deals.

Include the profit on a schedule C to make it subject to SE tax.

It is lucrative and substantially profitable.

If you just did this work full time as a contractor on other people's properties I think you could make way more then the $40 profit in 2 years (+ free living while you do it).Or continue to do flips but oversee the work on yours and several properties at once and leverage that skill into more profit.Just food for thought as to how you can take that passion and skill that you have and make it work for you even more.