Then make sure you leave enough equity in the Lakewood property and sell it after acquiring your next property.

The LLC has no impact on the effective tax rates.Also if you acquire a property for the purpose of flipping, that will always be Ordinary Income, also likely subject to self-employment taxes.That particular sales event has no impact on the taxation of your normal rental income from other properties. 

Folks,I am about to acquire my 4th property in San Diego in this market now(1 SF, 1Condo,2 Townhome).

Regularly evaluate your properties' performance and consider diversifying your portfolio, having adequate insurance coverage, and conducting thorough due diligence before acquiring new properties.

We acquired it for $45,000 and sold it for $64,000 through strategic marketing.

Acquired for $125,000, it was more than just a property; it was a canvas awaiting our touch.With unwavering determination, we invested $103,000 in a complete renovation, infusing every corner with passion and purpose.

Acquired for $125,000, it was more than just a property; it was a canvas awaiting our touch.With unwavering determination, we invested $103,000 in a complete renovation, infusing every corner with passion and purpose.

When we acquired it for $125,000, we saw beyond its current state, envisioning a masterpiece waiting to emerge.With steadfast determination, we embarked on a journey of renewal, investing $103,000 into a complete renovation.

I've progressed from owning fixer upper duplexes in the north end of Winnipeg where I would do the renos myself late into the night; to purchasing large apartment buildings to acquiring properties in 13 different cities across Canada and the United States. to now buying office buildings and institutional-grade grocery-anchored retail centers leased to national tenants and publicly traded companies like Walmart, Safeway, and Loblaws.Before 27, I achieved lean FIRE, all thanks to the inspiration and fundamental concepts from the BP podcast and the incredible people I've met along the way in this entrepreneurial journey by betting on myself, committing to lifelong learning, and nurturing an insatiable curiosity.If someone like me, who barely made it through high school and would be considered "unlikely to succeed" by my peers, can do it, so can anyone reading this.

@Donnie Tucker In my opinion driving for dollars is probably the worst strategy to acquire properties.