You might want to talk to some of your family members to see if they might want to invest with you.

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.

Also adding in here for anyone else viewing that we would need to consider the possibility of the IRS classifying this as a second home versus an investment property and disallowing any potential 1031 exchange due to allowing a family member to use the home rent-free.There are safe harbors to qualify for a 1031 exchange.

Hello everyone, my name is Connor Laux and I have always had a passion to compete, learn and be the very best at what I do in my life. Being a former college athlete has always made me dedicated to what drives me each...

@Uri Frodis, I'll start with a disclaimer that I am a member of the Jake & Gino community.

My long term rental will then be owned by this Single Member LLC.

The most valuable team members are those who understand the compliance side of Section 8 well and can help navigate that process.Property Management: Managing Section 8 tenants comes with its own challenges and benefits, especially in communication with the housing authority.

I personally would try to get a family member to manage it if that's an option.You can get conventional financing as a business owner if you go with a non-QM or bank statement program.

Like I said, there's probably nothing you can do unless you can get enough members to complain and vote against it.

A built in safety net if you will.Respectfully, Gary I recall back at the start of covid and eviction moratoriums and many BP members basically said they had no more than 2 to 6 months before they are in major trouble.