If so, there are no transfer taxes due. 

There will be no assessment for increase in taxes or insurance so remains at $1935.

There are less taxes in Alberta too.

but if i go in a LLC with them i get hit with the tax from the sale of the homeThe GC and the flipper were just going to split the profits from the sale of the home and they were going to pay me 2%/12% for the duration of the build. 

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

It’s definitely smart to evaluate the tax and cost implications of your funding options.

(I REALLY can’t stand state income taxes.  

Personal Financial Statement Borrower’s Schedule of Real Estate – or- Resume illustrating experience2-3yrs Personal & Property Tax Returns – All schedulesPrevious Year and YTD Property Profit & Loss statement w/ detailed expensesRent Roll w/ detailed lease informationCopies of all Leases3mo.

The sum total of taxes of each of the 4 units will usually be higher than if it were apartments.

At a 37% tax rate, this creates around $117k in tax savings, reducing your taxable income from $700k to $583k.2.