So the actual tax bill is going to be impossible to predict without looking at the individual owners' personal tax situation.How much of a gain do you think you made on your first flip?

Applicant credit scores should be treated with a high level of care and should not be handed out when they aren't assured that you are locking them up and taking due care with private and sensitive data.So, many places, including the screening company we used for years before moving to a PM, provide a suitability score rather than the actual credit score. 

I still have clients buying in Vegas, but it's not as common due to cashflows being hard to come by with the traditional 25% down financing.  

Have some real estate under my belt but looking into Short term rentals opposed to long term rentals.Wondering if there is a stand out book to read to gain understanding for Australian Short Term rental market/AIRBNB.Also if there is a specific group for Australians and short term rentals for Australian market/Australian tax system etc, do point me to that.Rod

It's low risk and tax free on the gain.

You should always look for Tax-Deferred and Tax-free methods to Invest.

Then you can do a 1031 exchange or sell it at a lower tax rate. 

As expenses fluctuate (property taxes, insurance, maintenance items, etc), the cash flow will be up and down and unreliable.

What I see a lot of people do is overthink it and then either stop in their tracks, or wait for years to get started due to the overwhelming data that they get on what they want to do.

While they are beautiful and get you top dollar, many come with tax abatement that expire in 5 years and will significantly reduce your cash flow once expired.