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@Muhammad Kashif Flipping a property in 6–9 months results in short-term capital gains, taxed as ordinary income (up to 37% federally, plus NJ state taxes up to 10.75%).

HelloI am in negotiation on a property in Ohio.

It's meant for gap financing, so you can't compare it to a DSCR or some other kind of first position financing.  

The seller is offering seller financing at 2% interest with a 9-year balloon.

I did not come back to revisit this post from so long ago.I did not buy this property. 

A triplex that cheap is hard to come by I'm curious as to which market you're investing in and the state of the property.

Quote from @Paul Whitehurst: Many will tell you to borrow money from Property A to purchase Property B, but that's known as over-leveraging and not recommended for a newer investor.

I used a realtor that specialized in rehab properties.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.