We also own a rental property.

As the CFO of a developer and property management firm, I’ve got some experience with rental markets across the US. 

I am a flipper/investor who has sold many properties, frequently direct to the buyer. 

If you want properties less than $100k, you need to be in Cleveland, Dayton, Akron, or Toledo.

The first mistake is the property is free and clear.  

LLC Taxation for FlippingSince you’re flipping the property in under 12 months, the IRS usually treats it as ordinary income because it’s considered a business activity, not a long-term investment.

The LLC sells the subject property and buys, for example, 3 replacement properties in a 1031 exchange. 

I’m a real estate broker, Investor, and property manager in Lee County.

What type of properties are you seeking, SFR, 2-4 MF, or 5+ MF?

Quote from @David Cherkowsky: Hi All,I purchased an investment property in the middle of last year and to this point have been using 0.75*lease value in my DTI calculation.