Investment Info:Other fix & flip investment.

I have 2 questions as it relates to taxes for fix and flipping.

I'm particularly passionate about fixing and flipping and long term rentals. 

My siblings still live there, the house definitely needs some fixes, and now I'm out of cash. 

I think I want to start off with house hacking and eventually get into fix and flips.

I’m a new investor looking to do fix and flips, buy and holds, and potentially wholesale deals.

I'm trying to buy, fix, and rent real estate and created an LLC with my partner who is putting up most of the capital but he will not handle operations at all.

I personally work with a ton of east and west coast investors, they love to buy here because of the huge growth in the last 3-5 years, with major companies like Intel, Amazon, and Google investing heavily.Turnkey properties are popular in Old North, Merion Village, Southern Orchards, Old Towne East, Driving Park, North Linden, North Hilltop, Franklinton, Reynoldsburg, and Hungarian Village.For BRRRR and Fix & Flip, consider Eastmoor, Hilltop, Whitehall, and Linden.

General rule of thumb I have heard is that carpet in a rental is expected to last about 5 years.The real fix here is buying premium higher traffic resistant carpet, or converting to a hard flooring on your next replacement, like LVP. 

Buy and hold or fix and flip?