Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.

Refer to the frequently asked questions on the third slide. https://www.hud.gov/sites/dfiles/SFH/documents/MO_203k_Progr...

if you're in St Pete frequently you'll need to turn some of those vacation trips into work trips - networking, building a team, and trying to find a distressed property.but the trick is then going to be moving quickly if either 1) a distressed property hits the MLS (unusual, but not unheard of) or 2) a distressed property comes to you another way (from your network, from a wholesaler.)how you will move quickly enough to lock it down and buy it, if you're in RI? 

How are you managing your properties in that area given that property management company seem to be extremely unreliable and seem to go under quite frequently 

We’re not used to seeing emergency declarations as frequently as they do in Florida.Our borrower is a local rehabber with a property scheduled to be funded today and close tomorrow.

I was hoping that this is an easy process, given how frequent name changes are following marriages.

Frequent hail storms pushing insurance rates up in that market. 

I grew up in Canada and still have family there and will be in the area frequently this year 2025. 

So your $10k could get you a property but what you don't think about is the tenant class is lower and the ups and downs are more frequent.  

If you’re in the position to buy multiple deals because this nursing home may get properties frequently.