I’m eager to start my journey by investing in fix-and-flip properties to build capital with the future goal to purchase rental properties.

Hello Everyone,I bought a home back in January 2024 using my FHA loan and I received a call from Atlantic Capital Funding saying that I could FHA streamline (interest reduction) from my 6.625% to 5.7% and could even get two mortgage payments covered, (allegedly).

Major issues like foundation work, bathroom renovations, and deck repairs are considered capital improvements, which can be depreciated over time, allowing you to offset a significant portion of your rental income with those deductions.

Replacing flooring, repairing a punctured pipe and repairing the wall hardly seems like 10k worth of worth.if you have a good tenant you shouldn't attempt to capitalize on this obvious mistake.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.  

The real world is where everyone can not do everything, especially without capital, a skillset, or training.I think what most people would call blunt now is just an answer without a whole beating around the bush to make someone feel better.

If you want rental property, you could take that equity and buy several houses better suited to renting.Selling now makes sense because you can also avoid the capital gains tax because you lived in the property 2 of the last 5 years. 

That would be a good place to start if you don't have the capital to do the rehab.

into another property to avoid the federal capital gains tax? 

I’ve considered lots of options (all real estate based since I can do a 1031 exchange and avoid the capital gains tax).