What started as a promising BRRRR ended with us making the tough decision to sell at a loss after an unexpected disaster.The Numbers:Sold for: +$230KPurchase Price: $115KClosing Costs: $3KRehab Costs: $105K ($49K original rehab, $56K additional repairs due to the car crash)Holding Costs: $31K (12 months)Selling Costs: $16KInsurance Claim Recovery: +$25KNet Income: - $16KWhat Happened:This was supposed to be a BRRRR.

Before you close, can the rent from your buddy and the midterm tenant cover your mortgage, taxes, insurance, plus a bit extra?

And would this be considered "capital gains" since it's re-sold under 1-year therefore having to pay a large % of tax on the profit?

And given #3 above, it leaves about 20% of rent for all other expenses like property tax, insurance and other PM expenses like leasing fee, eviction fee and other minor expenses like for e.g landscaping, pest control etc.

I found this one https://www.titlesearchcourse.com/faq/ its 69$ and the person who created it also has a youtube and specializes in tax foreclosure properties which is what i do.

@Tar-U-Way Bright Using your LLC for real estate ventures offers legal protection and tax benefits.

If they don’t satisfy that call, the broker could force a sale of securities, making them incur unnecessary tax liability.Let us know which brokers offer the best SBLOC terms.

To make a new property cash flow with current prices, interest rates, taxes, and insurance, you're putting at least 40-50% down.

I would reinvest in a another property and use a 1031 exchange to detour taxes.   

We lived in the property for 2 years and rented for 2 years to tenants, so by selling now, we ensured that we could avoid capital gains taxes.