Land flipping details

[Ross Benedict]

hi everyone, this is my second post on bigger pockets as a newbie to the land flipping game. Couple questions for all the pros out there. 1) do people typically buy/sell in a manor in which to minimize the amount paid in taxes? Anyone utilize 1031 exchanges? Are there specific time frames too abide by? 2) what are peoples take on subdividing parcels after purchase? Is it worth the extra time and paperwork? Thank you in advance for any advice anyone may have.

[Bill Exeter]

You must have the intent to hold for rental, investment or use in a business in order to qualify for 1031 Exchange treatment.  Intent to buy and flip is actually considered "held for sale" and does not qualify for 1031 Exchange treatment.  You don't even have to be classified as a "dealer" to be disqualified from a 1031 Exchange.  It all boils down to your intent to hold for sale vs. investment.