I just wanted some insight about this, I am a veteran who is trying to buy a property using the VA loan and just wanted to know some of the tricks and some of the rules of utilizing it.

Many times we can get interest rate buydowns and even free property management.  

On another note-according to the realtor, there is a downed tree on the property that we were unaware of aren’t sure if it was already there or if it happened after we got it under contract.

Have your attorney file a lis pendens on the property.  

My neighbor did STR on 2 properties in Long Beach, but only allowed 30+ day rentals so that he did not have to register with the city.

Because flips are considered inventory (not capital assets), profits will be taxed as ordinary income rather than qualifying for long-term capital gains treatment.For tax filing:Report expenses like construction costs, permits, and interest as part of your cost of goods sold (COGS)—these won’t be deductible until the property is sold.Since no revenue is expected in 2024, your S-corp may show a loss, but that loss won’t reduce personal taxable income until the sale occurs.Each partner will receive a Schedule K-1 every year, including 2024 and beyond, as long as the S-corp remains active.Unlike an LLC, S-corp shareholders do not pay self-employment tax on their share of profits.

., you could hire an appraiser to assess the property and compile a report to obtain an accurate evaluation.

Do you have a completed appraisal on this property already?

After three years of managing all businesses and properties, we built up our capital and transitioned into full-time investment in Multi-Family Commercial Units.Since then, we moved to Nashville, TN, got engaged, and have two beautiful fur babies.

The financial of property is good:      DSCR = 1.3; LTV = 45%;Both my liquidity and net worth passes Chase's test.