I'm talking about tax season! 

Tax credit 45L for a 90 unit or 112 unit project? 

Hey @Nick Gallon Martin, I recommend speaking to a Tax Planner/CPA, @Jeff Nash would be a great resource for you.

At least ensure you are getting proper tax advice.C corp and s corp are both US federal tax concepts, not business entities.

I'm also a realtor. with the real estate professional tax status.

you need to dodge capital gains and foreign buyer tax.. you should consult a tax expert..If I was in this situation I would just sell (not advice) and buy a cash flowing mobile home park in the midwest

Since the property is being held for less than 12 months, the IRS will likely classify it as a dealer property, which means the profits from the flip are subject to ordinary income tax rather than capital gains tax.

An IRA would pay a small tax on such unrelated debt-financed income.

Intangible assets like goodwill or tangible personal property (e.g., equipment) are excluded from 1031 treatment and are taxed separately—goodwill is typically taxed as a capital gain, while equipment may be subject to depreciation recapture taxed as ordinary income.To minimize taxes on the sale of the business, consider strategies such as Opportunity Zone investments, which defer gains until 2026 if proceeds are reinvested in a Qualified Opportunity Fund (QOF), or structuring the sale as an installment agreement to spread taxable income over multiple years.

Because if you do, they are one of the few states that will require you to pay their tax after you’ve left the state.