Vollucci, is considered to be one of the foremost authorities on real estate taxation and investing and has authored books in these fields published by John Wiley & Sons of New York.

As his intent was to flip the property, taxation of the gains is exactly the same regardless of how long (or short) of a time he held the property.

Feel free to message a couple for a consultation and choose an accountant that you feel connected with.You just need to reach out to the ones who understand the taxation regarding non-performing notes.

Inflation is the new backdoor taxation... we all lose buying power to keep the house of cards upright, and the way it's going we're going to have to lose this value a good bit faster than we are now. 

So...if one receives a large insurance claim and decides to pocket it initially to pay off a mortgage and later does the property repairs what are the tax consequences? Using the dollars to pay off the mortgage initi...

Isn't that taxation of internet traffic?

I know this is askew of topic, but if you have several (say 10) properties under seperate LLC's and you want to borrow some or all of the money from each LLC's bank account to something (like maybe another property) how is that accounted for from a legal and taxation standpoint?

These affect the taxation of the account as well I believe.

I agree with J as the taxation differences is why I wanted to establish as an S-Corp vs LLC.

As I pointed out, its a taxation issue.