We are small potatoes!

[Chris Stone]

Did I spell the veggie right?

I know they say to ask your CPA. We have a ordinary tax accountant. He's not sure. I am a Realtor agent making less than $25,000 yearly . We have some nice rentals bring in a net of $25000 a year. We did our first flip and made $15000.  Easy, peasy. A few weeks of work, at most. Now I hear we may be designated as "flippers" and ALL our rental income and sales might be designated as ordinary income. So now, I'm a little wary of doing another quick flip.

Any real life experience with this?