@Irene Gustaitis It’s best to keep your LLC in Connecticut (CT) since the property is located there, simplifying legal and tax obligations.Even if you get an LLC in CA, you need to register an LLC in California (CA) and will have to pay the $800 annual franchise tax without gaining significant tax benefits.

Learn how to buy properties to flip or even buy and hold on paper to gain some expertise. 

I am in the process of gaining expertise in land wholesaling and I am seeking to establish connections with builders, real estate agents, and investors who are acquiring off-market properties.

A solid agent will understand that there is a financial gain, but this is a relationship, so if it isn't the right deal, they can be honest with you and you are more likely to use them again and refer.

Rehabbed it and the equity gain after was significant.

Maybe give you a gift of some of the additional gain.

@Brandon Bruckman, I heard back from my CPA and she confirmed that I can pull up to my basis out of the REIT by selling REIT shares/units without incurring any capital gains taxes since it is considered a return of capital (ROC). 

Are you navigating a Sec. 1031 exchange or facing deferred tax gains and looking to understand how to optimize your deductions?

After five years you'll have earned $90,000 in rent income and gained $34,000 in appreciation.Buy four houses with $50,000 down on each.

We could offer $210,000 to make it a 1% deal, but I understand that the seller paid for the rehab, would have to pay capital gains tax, and closing costs.Based on the info provided (potential rent roll, the fact that it would be a house hack, and the appreciation potential), what do you think a reasonable offer price is to get them to sell a property they recently bought and put money into?