The market is slow currently and you need to check flood zones and assess insurance costs when underwriting a deal.

This tax is assessed on business income inside of tax-exempt entities or organizations (IRA falls into this category).

Always smart to see the bigger picture and future cash flow potential!

He believes that area where he will be buying the new homes is going to appreciate and attract more MTRenters, but now, the big difference is that he would now have 3 properties that can go up (or potentially down) in value, go up (or down) in rent, and three times as many vacancies to fill.My back of the napkin assessment is that for only a drop in $200 a month in cash flow, he would control a lot more assets with growth potential and as rents rise over the coming years, the combined rents will increase to a total more than the single rent.HOWEVER.

Typically, the tax is based on the assessed fair market value of the property at the time of the transfer, even if it’s not a traditional sale.

we are still assessing the rentals we manage but overall are just finding a few minor issues so far. 

You must exclude the land value, typically allocated based on property tax assessments or an appraisal, as land is non-depreciable.

Purchase price: $220,000 Cash invested: $220,000 Sale price: $250,000 Deal Overview: 7 N Harvard Ave, Tulsa, OKProperty Type: Commercial (formerly a bakery & cannabis dispensary, potential multifamily conversion)Condition: Needs rehabPurchase Price: $220KInvestment Strategy: Flip, Rental, BRRRR7 N Harvard Ave is a unique commercial property in Tulsa, formerly a bakery and cannabis dispensary, now a strong flip, rental, or BRRRR opportunity.

Have your closing docs out and know what ratio the county assessor applies to land value (ie 300k assessed value, $50k land =1/6). 

Novice investor here. Would anyone have a good fix and flip spreadsheet they could point me to?