Hi I was wondering if I can take profits from a different business (has nothing to do with real estate) to go towards buying houses to help with taxes or would that not work? 

I would be wary of buying a home in a residential neighborhood in ABQ with the goal of having a STR: Only CA rivals NM in terms of economic governmental tampering.

The profit will be taxed at my personal tax rate.What's the benefit of having an LLC to do flip?

A professional that can navigate and verify permissions, usages and support due diligence are critical to profitable investments. 

Remember that most of your profit is made on the purchase, meaning that you need to buy at a discount.  

@Drago StanimirovicI’m not trying to purchase another property, I’m trying to use the profits from the sale to pay the remaining balance of my loan off for my second investment property.

:)  Hard money is a great way to get started - you can possibly finance 100% of the purchase plus rehab and then walk away with a profit.

Properties that were undervalued just a few years ago are now turning solid profits for those who can complete timely renovations.Low Inventory: With inventory levels continuing to tighten, the demand for well-renovated homes is higher than ever.

I currently have RelayFi and love it, it has Profit First system integrated within its system. 

This deal showcased our strong renovation strategies and collaborative approach to achieving profitable outcomes.