We toured the property and went under contract the next day.

This property has been flipped, and rent exceeded the one percent rule.

Here are five crucial tips to help you stay profitable and avoid costly mistakes:Buy Smart, Not Just Cheap – In today’s market, finding deep discounts is tough, but focusing on properties with value-add potential is key.

My mom was shopping an estate sale when the owner told her he was planning on selling the property.

Showing a property while it’s occupied is almost never positive.

He would also be exposed to liabilities related to the property, such as lawsuits or property damage claims, which could affect his personal assets.

- the property is based in Garfield Heights - and that my property tax will be much higher.More details: https://brickbear.ai/share/deal/1/583

In some cases, after running the numbers, I’ve even faced potential negative returns, causing me to miss out on promising deals here in South Florida.That brings me to my question: I currently own two homes—one is my primary residence, and the other is a rental property.

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.

We are working with our property manager getting everything ready to go- we are just a few weeks out from going live (fingers crossed).