Hello BP community,I am an out of state buyer and  recently purchased a rental in San Diego, CA.

Hi All,What are some tax implications to keep in mind for flipping a single-family home in California?

Example people that live in CA / NY / MA cant but houses for 50-60k two miles from a target like I do.

Purchase price: $200,450 Cash invested: $16,000 Sale price: $319,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Seth Choate, successfully completed a deal on Spruce Street, Modesto, CA.

Theresa that is because your banks make the loans directly.. in the states we have a million and one  Brokers  who are not direct lenders.. very very different in CA compared to US..

I have sold many CA buyers 2-4 units in Chicago.

Purchase price: $185,000 Cash invested: $33,900 Sale price: $280,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Seth Choate, successfully completed a deal on Sierra Drive, Coulterville, CA 95311.

Like other posters have mentioned - it will likely vary by lender - but generally most states will be OK with either Individual or LLC but there are a handful of states that due to various regulatory interpretations will require a LLC (or require a LLC to have prepayment penalties on the loan structure) Borrower = Individual or Entity AL, AK, AR, AZ, CA, CO, CT, DE, DC, HI, ID, IL, IN, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, NE, NH, NJ, NM, NY, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VT, WA, WV, WI, WY Borrower = Entity only GA, FL, IA, MT, RI, VA (1-4 Units) Prepayment Allowed Vested Entities Only IL, NJ

There are numerous posts about ESA laws but I am unsure as to what is the latest in Palo Alto CA.

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