I am not saying he didn't do something wrong but I am pretty sure he is very careful to do things right. 

With the amount of cash you have on hand the numbers you are mentioning you can do much better with ROI

Hi Arash, How are you doing? 

The remaining $150K in this case is still eligible to be offset by any NOL from my rental properties from LLC #A.You already explained the basic idea yourself, so there is no need for us to do it. 

They are known as the Winthrop Factors-The purpose for which the property was initially acquiredThe purpose for which the property was subsequently heldThe extent of improvements made to the propertyThe number and frequency of sales over timeThe extent to which the property has been disposed ofThe nature of the taxpayer’s business, including other activities and assetsThe amount of advertising/promotion, either directly or through a third partyThe listing of the property for sale through a brokerThe purpose of the held property at time of sale; the classification as an investor or dealer is determined on a property-by-property basis.To me intentionally buying a property to renovate it to resell it for profit, twice in the same year, and opened an entity to do it in ....is going to be ordinary income and not capital gains. 

Going to do short term rental as well. 

This site has been instrumental in getting me from 0 properties to where I am today. 

I have Zillow and propstram downloaded, and I'm doing everything from my phone 

Do you already have a local realtor who can look into the property more for you?

I have never built a home before and I do not have 'construction' experience aside from renovating my own spaces (so i do have experience- just no formal experience).