Here's the key components to calculate your tax liabilityAdjusted cost basis - Is the purchase price, plus capital improvements, minus depreciation.

They’ve already priced the property.

This could significantly increase the sale price and net profit after selling.Pros of Selling: Immediate large cash flow that could be reinvested elsewhere (stocks, other real estate).

Purchase price: $330,000 Cash invested: $11,000 Sale price: $355,000 Fix and Flip

In fact the demand is stronger than I've ever seen it, though prices are high.

Flipping a brand new home likely wouldn’t bring much profit - especially after having to close twice when you first buy it, and later sell it.Maybe you have millions to spend and I’m just missing the big picture… but when I think of “income” I’m usually thinking “net income” after you factor in expenses, like purchase price or building costs?  

Some rehab loans offer 90% of the purchase price and 100% of the rehab costs.

This idea that everything goes up in price is completely fictional.

We have many efficincies under management with a ~10% vacancy rate with prices ranging from 485-625 depending on location property quality and amenities.

You may want to make an introduction between your CPA to those 2 colleagues.The CPA can go over their services and pricing to your colleagues.I partner with many people on real estate deals - It never gets to a discussion on whether they do their own tax return or hire a professional.If a partner mentions he will provide capital - does he provide the capital on a timely manner.If a partner mentions he will find deals - does he find many deals and provide an analysisIf a partner mentions he will manage a property - does he manage the property well(find tenants, collect rent, communicate with contractors, etc)