Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.

I have a lot of colleagues with multis in Philly and all are doing well because of low taxes and high reliability, but it has its challenges.

You may also need to provide additional documentation, such as proof of income and employment, and may need to have a co-signer who is a U.S. citizen or permanent resident.In terms of buying with an LLC, it can be a good option for some foreign buyers, as it can provide additional liability protection and potentially offer tax benefits.

Plus, compared to other parts of Florida, the Panhandle is still relatively affordable, making it a great option for first-time investors or those looking to diversify their portfolio.Another huge perk is Florida’s no state income tax and landlord-friendly laws, which make it easier to manage and profit from rental properties.

This means we don't require paystubs or tax returns, and we don't consider your personal debt-to-income ratio.

That immediate tax savings in the new property is better than the infinite tax deferral of the 1031 exchange.Some questions:1) why use an irrevocable trust?

If you paid under $230k, you’d save $30k in federal capital gains taxes and maybe another $15k or more in state income taxes.

Meaning, the bank wants to see that a property cash flows for typically one to two years of tax returns before they count it as income. 

Is it better to get an LLC when I become a land lord to get some tax benefits?

But higher tax rate in PG county.