Mike, Craigslist will give you a lot more leads than an agent.

As long as he does not write the contract and did not get leads from the company, how could there be a problem?

The properties I typically buy for rehab purposes are pretty beat as it is.

Now, I don't recommend holding real estate in an S-corporation for tax purposes.

I hate, HATE when I get leads sent that say "150K ARV, 4sale for 100K, 25K repairs, 25K profit for you"Aaaaahhhhh, yeah, 25K profit for me if everyone else is free other then rehab.

There is no deduction for travel expenses for spouses or dependents, unless they are an employee and the travel is for business purposes.

Maybe someone else can comment on how things work for an entity set up for a special purpose and how they handle the preferred return on sales proceeds.

This will lead to appreciation, and also get you very solid cashflow at a pretty passive rate if you hire the right PM.

Kelly I looked at recruiting agent for my firm years ago.At one point I did an active campaign and had about 45 agents at my firm at one time.I have found most agents feel entitled or won't follow the steps you tell them to be successful.They will skip some steps because they are lazy and want to "get rich quick" like the rest of the population which is why so many fail.If I add an agent say on a 70/30 split then I have to take time from my own deals where I make 100 percent to make 30 with them.The training and getting over their mindset takes so much more time than me doing my own deals.This is why I have only 7 agents right now.I got rid of the rest.Many companies try the 100 percent model but you get either new agents having no experience,part-time agents who are rusty,child support demands,irs tax liens,license lapses for education and or non-payment of dues etc.It is a huge headache to keep up with for a low return.If you go the other route you can train new agents for a fat split before they leave the business or train a select few agents that you want to feed leads to on your team.I just focus now on my own investment purchases and my own commercial listings.

Also in my area, though we have rentals on the MLS they are not a good source of rental leads.