4 months from start to finish and a $100,000 profit (split 50/50 with my partner and me).

If that were true the various real estate niches would have almost unlimited competition and profits would head toward 0.  

Was it profitable?

You’ll want to weigh the potential profits from selling versus the costs of selling and moving on.

If it does go up, great I just made more profit.

Flippig was nearly impossib le to make a profit in 2019, now in 2021, post doubling of lumber, nearly doubling of contractor costs, 50% increase in HVAC etc etc, no one uses GCs (that I know of). 

4 months from start to finish and a $100,000 profit (split 50/50 with my partner and me).

You are just making profit from the yield play.  

It's a lot easier than competing for profits against the other MLS shoppers.

Preferred equity is often structured to resemble a loan in that it provides fixed payments and a return of capital, rather than a share of profits, which could reduce its exposure to UBIT.