You will need to provide an explanation of the circumstances surrounding the BK every time you apply for credit, apply for a job, apply for a bank account, etc.Bottom line is if you’re working day labor type jobs for small companies and live on a cash basis it might not affect anything.  

Tax-wise, profits are taxed at your ordinary income rate, and frequent flips may subject you to self-employment tax if classified as a dealer by the IRS.

That remodel is going to take both time and capital, so it’s a key part of my plans as well.Would love to hear how others are approaching similar goals—anyone else tapping into equity or gearing up for larger projects?

Hi Franklin, glad to have you as part of this awesome community! 

It's all a part of the game. 

Most part time and full time investors use these loans due to the simplicity and straight forward qualifications. 

Hi Brian, glad to have you as a part of this awesome community!

There are other ways to be part of the real estate industry besides being an investor and those may be more financially advantageous for you. 

If so maybe it's time to sell and reallocate.  

Yes there have been some dramas here as but for the most part it's been pretty great.