There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

This is one way to manage costs risk.The ways to own the property besides FHA & conventional loans is with private loans, investor DSCR loans (non owner occupied); seller financing, lease options, partnering with others to take the property down..... 

That makes private financing a solid option for folks with non-traditional credit or complex financial situations that banks might shy away from.Then there’s the tailored approach to loan terms.

I intended on financing a rehab for $60k with a $15k return after 6 months.

Today, I analyzed over 10 condos, and while I found one with a positive cash-on-cash return, it was far from impressive.I’d love to hear from experienced condo investors about why this type of real estate might make sense despite the low cash-on-cash returns and HOA fees that cannot be influenced.As a bonus, if anyone has purchased investment properties for their children with a similar goal, I’d really appreciate any insights about your process or results.I am looking at buying 2 investment condos for my children to pay for their college tuition in 13-15 years.

The purpose of my phone call was in regards to their "Turn Key Section 8 Program" which promises 30-35% Cash on Cash returns.

If you added in the cash you should have to protect against contingencies, the actual return goes down (or the risk sykrockets, your choice)- If the $300K properties cashflow, definitely a better bet. 

If you need 10 minimum and have to hold those non-paying tenants until you get 10, what does that cost you in your financial model?

- Value add - How much does it cost to convert Non-climate controlled units to climate controlled units? 

You can certainly find a property for cash flow that may also bring you a strong return on that investment.