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

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

In short, there are select cases where an experienced investor with a strong network can turn deals with low cash, but someone trying to get started with $10k-$20k is going to have a very hard time. 

What are your short term goals? 

This strategy showcases how buying directly from motivated sellers, renovating strategically, and selling retail can yield substantial financial gains in a relatively short time frame.

The property is cash flowing $10-15k every month and has been an absolute juggernaut as a short term rental.

I believe that connecting with experienced investors and fellow newcomers will be invaluable as I navigate this path.I am particularly interested in short term rentals, multi-family rentals, and possibly fix and flips. 

I wanted to help them out and minimize their loss and saw an opportunity to get a property slightly below market because of my commission savings, immediate mortgage and maintenance relief, in addition to keeping a lower short term interest rate How did you find this deal and how did you negotiate it?

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.

Hello all,Has anyone sold a short term rental owned over a year  as a non real estate professional that qualified as short term capital gains tax deductions with expenses and depreciation?