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Updated over 7 years ago on . Most recent reply

User Stats

6
Posts
2
Votes
Steve Watson
  • Investor
  • Monrovia, CA
2
Votes |
6
Posts

Profit from financing Mobile Home Sales in Rented Park

Steve Watson
  • Investor
  • Monrovia, CA
Posted

If I buy 10 mobile homes (no land) in Mobile Home rented Parks & rehab for a total of $5k. Then I sell them a month later for $20k and finance to the new buyer for 60 months. I do this in tax year 2018, what is the profit I pay taxes on in 2018? What is the best way to avoid taxes or spread the tax liability over the 60 months?

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