I have been researching properties for potential fix and flips and I came across this property...and I wanted to get some thoughts.

This property is distressed and the price is listed at $55,000 for 3 beds and 2 ba...

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Article Highlights below:Los Angeles-based developer CIM Group plans to redevelop a site at 1300 E.

@Eric Long maybe 15-20 yrs ago that was true but the last 10 yrs has really changes E Austin.

You'll also need an Annual Owner Statement, showing a breakdown of income & expenses suitable for a Schedule E. 

Being sole proprietorship LLC (classified as disregarded entity), i was planning to file my future Tax returns on my Individual SSN tax account using Form -1040 E form.I don't have any employee and also not planning to hire in future .

@Donald E AppleberryJust to clarify, my suggestion was to do the rehab first before getting any tenants.

I also think there is potential in Edgewater and Wheat Ridge (a little bit sleepier for some reason, but they just added a big food hall).I'd also look at E Colfax due to the city's East Area Plan and the Denver Opportunity Zones (specific low-income urban and rural communities areas identified for favorable treatment of reinvested capital gains and forgiveness of tax on new capital gains)

E-documents.

I followed up with a long e-mail explaining my perspective and under what terms I would be willing to continue renting.