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Updated about 3 years ago, 11/23/2021
Fix and Flip in LLC to build capital without tax?
My area is experiences huge amounts of very fast appreciation. So much so that the 1% rule and deep dive analysis for on market deals (even far below asking price) dont make sense to BRRR...but many of them do make sense to fix and flip.
I want to build capital to get into multifamily, my goal is income to have the option to quit my job.
Is there a tax structure that would allow me to fix, flip, and keep the profits in the business of which I just roll into the next property so I can avoid ordinary income tax?
My understanding of 1031 exchange is that its only relevant on rentals....not fix and flip.