First-time fix-and-flip investor from Atlanta, GA

[Romont Johnson]

Hello everyone,

My name is Romont Johnson and I'm a 36 y.o. male living in Atlanta, GA (from Pittsburgh, PA).  I'm a Senior PHP Developer for a local chemical sales company where I've created and maintain proprietary sales and business management software.  

I've wanted to get into house flipping for the past 15 years but until recently I wasn't comfortable making the leap.  I've been educating myself in the subject for years.  In college I purchased Carlton Sheets No Money Down CD set and I've read a ton of books over the years.  I'm also subscribed to loads of business-related podcasts which eventually led me to the BiggerPockets podcast and fortunately this website.

My background in real estate began in 2007 when I purchased a duplex in the West End area of Atlanta.  A year after the purchase I was completely underwater due to the housing crisis and tenant quality soon began to degrade.  I eventually sold the property for a loss in 2013.  I purchased my second property, a 7 BR single-family home in Atlanta in 2011.  I recently sold the property for substantially more than the original purchase price.  The funds from the sale are giving me the confidence to finally take the leap into flipping.

My real estate goal for this year is to flip at least 2 properties.

I look forward to connecting!

[Romont Johnson]

@Ethan Atkinson, I'm under the impression that the IRS doesn't tax a primary residence if you've lived there for a certain number of years.

I found this on the TurboTax website:

I was in the home for 6 years and profits didn't exceed the $500,000 threshold (I'm maried filing joint).  Am I missing something?