Keep detailed records of payment dates and amounts and consult a tax professional to ensure this strategy aligns with your overall tax planning. 

Have you consulted with lenders to discuss your budget and options?

And consulting with a local attorney to ensure compliance with state-specific real estate laws, plus making sure you have the necessary permits, is a smart move.As you start, also look into state-specific rules regarding contractors and renovations, especially if you plan to flip in different states from where you reside.

Always consult with your attorney before you rely on the above information.

We (developer and all of us as consultants) were sued over this PE three years later, which I mostly believe is because they realized they had no 'proof' of the PE beyond the fact that we had shot holes in their AP until they acquiesced to PE.

Obviously, I'm not a lawyer and should consult with one before.

Make sure to consult a financial advisor if necessary and also consider reaching out to your local credit unions.

I hear it all the time in consulting calls.

Hi @Abel Curiel - can you share the consultant's name with me as well? 

Quote from @Kandice Morgenstern: I recommend you consult an attorney.