Unlike a mortgage the interest on your loan will not be tax deductible.

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.

Thanks for the feedback—it really makes me step back and think about this whole situation.To answer your question about the hard money loan: I went that route because I needed to close quickly, and hard money was the fastest way to secure the deal.

Readers should seek professional advice.Hello Ashish,Would love to connect and discuss a little more about the potential tax aspects of all this.

You live in a $1,000,000 house and are able to secure a HELOC for $150,000. 

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 shouldn't need her social security number to file for eviction.

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

Our negotiation approach focused on building rapport with the seller, allowing us to secure the property below market value.

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.