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.

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.

My dad had rental properties and when he died, he left me two multi-unit properties.

Entity A owns and manages the properties and has revenue of about $300-350k/yr, with a net of about 50-60k.

Quote from @Jason Wu: Please let me know if you have any good agents an can connect with for multifamily properties in Miami Beach.

I self-manage the property; I live like 20 mins away from it, it's a Class A neighborhood, the house was built in 2021.

There are plenty of websites that can give you a good idea of property values in your area.

You can watch closely to see if it is something you would like to do on future properties.

I own five properties in Hawaii. 

What I see most often is property managers get paid a % of the rental revenue.