Disallowed losses under wash sale rules increase the cost basis of replacement securities, potentially reducing future taxable gains.This post does not create a CPA-Client relationship.

She goes on to say that for her beginner investors, she doesn't let them buy over $100k total (including purchase and rehab), she already has a tenant pending for a particular property she currently wants to sell, already has a good relationships with a lender, and doesn't let rehab go over 2.5 weeks. 

From my experience, relationships do matter with the tenants.

@Mindy Jensen this is what I do until I've established a good relationship with them. 

We try to work with the same subcontractors as much as we can - it's the only way to establish a long term relationship. 

If you can get good at networking and building relationships by establishing rapport, you'll get ahead much quicker in this niche.

You need to connect with people, form trust relationships, learn from others in your area and you'll be surprised how opportunities open up. 

Work with a tax expert and real estate attorney to finalize the deal and navigate zoning or financing complexities.This post does not create a CPA-Client relationship.

*This post does not create a CPA-client relationship.

LLC offers no tax savings.This post does not create a CPA-Client relationship.