I am a lone parent on tax credits.?

And would like to go into property as a business. (buy to let out) When do i quit my current job?
What other issues do i need to think about?
Will my tax credits be taken away with imediate effect?

I just want to have a happy medium going with work and home life.! Please no sarcastic comments. Thank you.

So, if i got to the stage where i did earn a 'bit' and gave up work, would me sitting on my behind and bringing in the rent be considered as self emplyment?

First of all, to buy a property on a buy2let basis, you need to raise 15% deposit per property. The rental income will probably just about cover the mortgage, so unless you buy quite a few properties at once, the chances are you wont be able to afford to give up work. If you do give up work, you would need to declare the new income.

firstly you get tax credits for a year so that wil be ok. secondly prop market dodgy so dont bother now. thirdly marry some rich sado who pretends he adores your child and live the lie like so many others. Not sacarstic, just honest

I work for a guy who has 15 properties which are buy to let, and believe me he does get big problems. People doing a moonlit flit owing hundreds in rent, and absolutely trashing the place before they leave, and always taking the keys with them. Recently people done a flit from one house and had smashed up the bathroom, Squirted tomato sauce over all the carpets, and smashed all the light fittings. They also took a new fridge freezer with them as well. Cost him 拢1, 800 to put it right before he could let it out again. There is no way you can stop people doing this and the bond never covers the amount of damage. Anothe one was a house where the single mother had left behind 2 black bin bags full of soiled napkins. So my advice is don't bother with Buy to let unless you are able to cope with these problems.