Real estate transactions, especially flips, come with specific tax implications such as the potential for dealer classification, short-term capital gains, and cost allocation for renovations, which can significantly impact your tax liability.

FHA loans typically require the property to be a primary residence for at least one year, so he should confirm compliance with his lender.Once rented, he can deduct expenses like mortgage interest, property taxes, maintenance, and depreciation starting from the date it's available for rent.

Starting sooner rather than later allows you to benefit from long-term appreciation, build equity, and gain hands-on experience, even with a smaller property.

They will get in touch with the property manager, let them know a complaint is filed, and typically give them an opportunity to make things right before opening an investigation.Have your friend look for a new PM immediately.Start by going to www.narpm.org to search their directory of managers.

Typical market rent for the area is 800-1000 for the zipcode, housing authority has max at $1300.

What kind of returns are you typically seeing on these deals?

The typical project sells out in 30-45 days, though one of them took longer.All of our projects have a detailed Purchase and Sale Agreement (PSA) that buyers sign with details on terms and construction timelines.

Typically max leverage is 70CLTV - very higher Prepayment penalties and be ready for rates north of 12% - I answer this question all the time.

They don't typically throw parties there like they would at a fraternity house.

. $150 cash flow on any rental especially a triplex is dangerzone imo. 1 month of vacancy of 1 unit could destroy a years worth of financial gains.