The losses just pass into future years that will eventually offset future gains.

I would echo what others have said - 100% start locally because you need to gain an appreciation for what it means to be an investor, understand the lifecycle of a deal and be on the ground to observe what's going on with renovations etc.

@Bao Vu The purchase price and related expenses from 2023 should be included in the cost basis for the flip sold in 2024, reducing your taxable gain.

Once you sell your old property and use a QI, the exchange will be complete and your capital gains will be deferred.

Focus on cash flow and exit strategies, and consider starting with a smaller project to gain experience and minimize risk.Good luck!

Key Steps Before ProceedingContact the Loan Servicer: They will guide you through the assumption process and confirm whether an entity can participate.Consult an Attorney: If you’re considering title transfers or joint ventures, an attorney familiar with VA loans can help you navigate potential risks.Understand Due-On-Sale Clauses: Ensure any post-assumption changes comply with the loan terms to avoid triggering repayment demands.Final ThoughtsVA loans are a unique and valuable financing tool, but the program’s focus on personal borrowers makes entity-based assumptions unlikely.

Currently working to gain capital as I educate myself and seek knowledge through every possible avenue.

Plus for its high cash flow potential, utilizing a 1031 exchange to reinvest gains effectively made this experiment a relatively low risk for me.

However, these costs can often be added to your property's basis, which helps reduce capital gains tax when you sell the home.Once the property is officially a short-term rental, subsequent repairs and maintenance would likely qualify as deductible expenses. 

If you're open to working with remote professionals, there are experienced CPAs who can provide valuable insights and strategies tailored to your needs.