Investing in single-family residence fix-and-flip projects in New York involves purchasing distressed or undervalued single-family homes, renovating them, and selling them at a profit.

There are too many people selling you on how easy, passive, and lucrative real estate investing is.I always tell people the first year or two will be bumpy.

We don’t sell property, but I can recommend the two gentlemen who replied to your post, as they know the STR 34747 zip code well. 

We were lined up to have this project complete by August which would still be in the prime time frame for selling this house.TLDR of my previous post - I ran into troubles with my first flip which was going on at the same time as this project.I had to pull my contractor from this house to save the day on my first flip.

We're looking to transfer this into an LLC for liability purposes.From what I can tell, the best way to do this is to retitle the property, pay Chicago's expensive retitling tax, and set up an operating agreement, all of which likely requires a real estate lawyer (what $ base do we use on the tax, given we aren't selling it to ourselves, just transferring it?). 

Quote from @Roxanne Whitaker: Please be aware if you buy an investment property and do not live in MD, when you go to sell it you will pay an 8% tax at settlement. 

I mainly want to ask if these assumptions are reasonable and if there's anything I haven't considered:(1) multifamily units in NJ close to New York City, ~$1,000,000, 20% down payment, (2) Using the following assumptions: 4% appreciation rate, 6.5% interest rate and 5.0% refinance after 5 years, $10,000 yearly maintenance fee(3) ~$6,000 monthly rental and assume 3% increase yearly with 5% vacancy rate(4) Based on the above, the calculated IRR if selling at the 10th year is ~19% (considering tax benefits) and ~17% (without tax benefits).

If I do move in the next few years because of the military, I will decide if I want to sell for the appreciation depending on the market. 

You probably won’t be able to sell with 9 years without taking a loss.

i.e. buying and selling notes.Of course the mortgage is attached to the property.