However, you can reduce tax liability by:Converting the flip into a rental for at least a year, allowing for depreciation and potential 1031 exchange benefits when selling.Offsetting gains with deductions, such as accelerating business expenses or using cost segregation for rentals.Using an S-Corp for future flips to lower self-employment taxes while keeping rentals in an LLC for liability protection.Deferring deductions to 2025 if your 2024 taxable income is high.While a 1031 exchange isn’t an option for flips, strategic tax planning can help minimize taxes.This post does not create a CPA-Client relationship.

@Mitch Wittman@Tim BuckinghamHere are the general considerations regarding 401k loans.401k Participant LoansIf your 401k plan allows for 401k participant loans, the maximum loan amount is equal to 50% of the balance up to $50k.

Hello need suggestions/advice...own a business with property...Land next door was approved for Mixed Use Construction (Retail on bottom residential on top)..Construction has begunMy business is slow and is affecting bottom line..may need to relocate business and have developer build on my property...Would like to keep property and build same as next door(numbers will be easy to get including approvals) ...looking for investor ..Afterbuild units can be sold or rented...For exist plan total improvements $2.3+MPlease let me know thoughts....suggestions time sensitive..Thank you

It sounds like you’ve got a solid plan in place with the bank refinance to secure long-term financing.

Quote from @Nathan Nathan: Hi, I am planning to create LLCs in Wyoming , Michigan and Georgia.

Sounds like a great plan. 

Indoor camera ONLY for the vacant period for safety/peace of mind then plan to remove once renting it out but will keep outdoor cameras. 

The plan is indeed to house-hack.

Oakland has some ambitious plans to improve the city, and as rate improves, I firmly believe certain parts of Oakland will recover faster than others.

Assuming you don't plan on going back into any consumer debt again I like your plan versus barely getting by.