He mentioned in his post how he spoke with three law firms and none of them agreed with his asset protection approach and was looking for referrals for someone who would agree with his strategy.

As usual, I talked to someone in Pakistan for over an hour with very broken English, who said "I apologize" and "unfortunately" about three dozen times. 

So you might defer 15% tax to pay 40% in three years.

If you want to leave your IRA intact and avoid penalties or taxes, consider other options such as:HELOC (Home Equity Line of Credit): If you own property with sufficient equity, a HELOC can provide funds for a down payment without tapping into your IRA.Personal Loan: Depending on your credit, a personal loan may be an alternative.Seller Financing or Private Lending: Look into creative financing options for real estate investors, such as seller financing or private lenders, which can help with down payments without needing to use your IRA.

I can prove my hours because I started my accounting firm in late September, which means for the first eight months and three weeks of the year, I was fully focused on managing my two multifamily properties.By using the grouping election, all of my real estate activities would be treated together.

Hey Corey -Three things I’d like to highlight are:1) Most lenders will have a leverage cap on doing a portfolio loan versus doing a single asset, so definitely ask the lender(s) that you’re speaking to about this. 2) Be mindful that a portfolio loan will save a decent chunk of change (thousands of dollars) on closing costs, so that can make it worth it. 3) Lenders will also have partial release clauses for paying off individual properties in the portfolio.

Assembly Bill 1771, also known as the California Housing Speculation Act, aims to change real estate tax policy to discourage investors from quickly reselling properties like single-family homes.Under the proposed bill, an additional 25% tax would be imposed on the gain from the sale of a qualified asset (including homes) within three years of the previous sale.The tax reduction is dependent on the number of years passed since the initial purchase of the qualified asset, ranging from a 20% reduction for sales occurring between 3.01 to 4 years to a 100% reduction for sales occurring more than seven years after the initial purchase.The revenues generated by this tax increase would be deposited into the Speculation Recapture Community Reinvestment Fund, which aims to support affordable housing, local governments, schools, and infrastructure projects.The bill is introduced by Assembly Member Ward, and the proposed tax changes would take effect from January 1, 2023.Assembly Member Ward argues that short-term investors in the market, including fix and flip investors, contribute to rising housing prices, limiting opportunities for Californians to purchase homes.While the bill may discourage short-term speculative transactions, it is worth noting that California's tax laws still provide certain advantages for investors, including unlimited tax write-offs and depreciation benefits.The bill is subject to legislative approval, and Assembly Member Ward will speak publicly about the bill at the San Diego County Administration Center on a specified date.Please note that this is a simplified summary of the bill and its potential impact on fix and flip investors.

This person has three jobs, all new, at least one of them sounds sketchy, and the income isn't enough to support the rent.

I am still not sure which one is sufficient for me to do.

The benefit of going conventional is being able to purchase an MFH without the stringent property guidelines, self sufficiency test, and longer escrow on an FHA loan.