Flipping a house typically involves holding the property for a short period, which classifies the gain as ordinary income rather than a capital gain.

@Paige Gardner HM is a great way to get started however understand that it is SHORT TERM FINANCING 6-18 months. 

Tax deductions / write-offs should be a second concern.There are some rules that you need to follow to treat a short-term rental as 'active'(non passive) income which would allow you to offset it against other forms of income such as rental income / wages.

@Khaled Seirafi I've invested in several things in real estate: residential, commercial, small multifamily, mobile home parks, short term rentals, co-living (rent by the room) and I just bought an assisted-living facility.

In a very short time you will be able to see a very nice prportfolio building.Best of luck on your road ahead.

I am planning to BRRRR in DET and do turn-key up here as we are so short on labor. 

These properties are now rented as long-term rentals, and we plan to expand our portfolio while also branching into short-term rentals.Looking back, I realize how much my current knowledge and experience could have fast-tracked our success.

It's worth about $350,000 and no liens.I was thinking about making it a midterm rental or a short-term rental but it would require quite a bit of work and would require getting a home equity loan.Also considering selling and buying a turnkey str.I do plan on leaving the country and I'm not sure where I'll end up.Would love to hear the pros and cons from all you professionals.

But if you buy the property well, your downside risk is that it is short term rentals don't work, and you can simply sell it for hopefully no less than what you paid.That would be my mindset.

My name is Max Nelson, I am a Bay Area based Investor with a single Family home in Santa Cruz, CA that is a Short Term/Mid Term Rental and a Duplex in Bend, Oregon.