How is rental and flip income taxed

[Chris Oswald]

Before I start I will definitely be talking to a CPA about this, just want to make sure I am not going into the conversation blind and have good questions to ask.

To start with everything will be run through an LLC and I do know any profit is taxed as pass through income. The goal is to minimize the tax and maximize my ability to continue to increase investments.

For profit realized from a flip, if I rolled the profit into the next property do I still have to pay tax or is that deferred, similar to when realizing appreciation on a primary residence upon sale?

If I roll all profit from rents received into another property will I have to pay tax on the gains?

Is there a time limit for either?

Just trying to keep as much in my pocket as possible.

Thanks!