Here’s a summary based on the responses:Tax Rates and Holding Period:For flips (properties bought, rehabbed, and sold quickly), profits are taxed as ordinary income, not capital gains.The holding period is calculated from the purchase date to the sale date.1031 Exchange:1031 exchanges apply only to properties held for investment, not quick flips.If intending to use a 1031 exchange, I must reinvest the proceeds into a like-kind property within 180 days.Holding a property for less than a year may disqualify it from 1031 eligibility due to lack of demonstrated investment intent.Thanks again for all the helpful advice!

It's also extremely hard to win with an FHA loan to house hack in NJ because of the competition and the repair issues that won't pass FHA.

This had to do with lack of communication between Lender and borrower.

I lacked the architectural knowledge to design my own.

It lacks a little in the property accounting side though, so if you end up growing your portfolio, it might be more useful to use software with additional features such as bank feed integration, advanced tax reporting, and receipt scanning. 

it seems like a confluence of factors have made it difficult to get started - there is lots of competition for deals, both on and off market; money is expensive; the trades are booked up forever; etc. 

Study your market and your competition and try to do as well or even better.I hope this helps and wish you the best in this exciting adventure.

It is one amenity that sets our place apart from the competition.

New York is the most complex and challenging state to own notesMany still do it there as there is no competition, but it’s absolutely not for the faint of heart.

Plenty of people out there have the money for deals, but the lack the time and energy to FIND them.