Quote from @James Wise:I need to dig up a podcast that I listened to about 2 months ago with Tom Ferry, and the person was giving all the states, You are pretty close to that number on 5 days or more.. 95% range, the industry is very off kilter these days with the low activity of 2023 and 2024 that most people licensed just retired, gave up, or thought they were going to do something and never could get a sale due to bad leadership.

In my personal situation, I've come to believe that the juice is rarely worth the squeeze of going through small claims courts and arbitrations on small dollar matters.

Just another perspective to consider if you're not a person of color to look outside of yourselves for a sec, to recognize this oversight👍🏾

Because flips are considered inventory (not capital assets), profits will be taxed as ordinary income rather than qualifying for long-term capital gains treatment.For tax filing:Report expenses like construction costs, permits, and interest as part of your cost of goods sold (COGS)—these won’t be deductible until the property is sold.Since no revenue is expected in 2024, your S-corp may show a loss, but that loss won’t reduce personal taxable income until the sale occurs.Each partner will receive a Schedule K-1 every year, including 2024 and beyond, as long as the S-corp remains active.Unlike an LLC, S-corp shareholders do not pay self-employment tax on their share of profits.

Myself personally I think this is a state of Texas issue..

i would never tell a random person on the internet where they should live. 

These options can provide simpler and cheaper access to funds, especially if rapid property acquisitions are your main goal.Life insurance is a powerful tool when used for the right reasons—like estate planning or key-person coverage.

And, if the taxpayer is wrong and there would be no person who would ever lease a project under construction (which I doubt) at least the timing adjustment goes the safe way for the taxpayer.

Your brother remains personally liable for the mortgage, but no longer owms the  property securing the note2.

If one of us qualify for the loan amount and choose to have mortgage under one person, Question:1 How does the other claim ownership on the property?