The unique thing about this platform is that you can actually search reviews from BP members and interact with them about their experience with that particular QI.

To ensure correct classification, consult a real estate tax expert to optimize deductions and compliance.This post does not create a CPA-Client relationship.

You should consult a tax professional for an answer based on your unique situation, this is not tax advise just general information.

It will only create unnecessary hassle and cost.

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However, you can reduce tax liability by:Converting the flip into a rental for at least a year, allowing for depreciation and potential 1031 exchange benefits when selling.Offsetting gains with deductions, such as accelerating business expenses or using cost segregation for rentals.Using an S-Corp for future flips to lower self-employment taxes while keeping rentals in an LLC for liability protection.Deferring deductions to 2025 if your 2024 taxable income is high.While a 1031 exchange isn’t an option for flips, strategic tax planning can help minimize taxes.This post does not create a CPA-Client relationship.

If you are making a unique stay, you can almost 3-4x their estimate in my experience.  

Each property is estimated to create about $70,000 of profit over the next 3 years.  

Quote from @Jay Hinrichs: one  way i know to replace 350k a year with 750k is to build new construction and sell it.we pretty much double our money COC with new builds within 12 months.So you pay cash for the lot  get a construction loan and the hard part is going to be a GC you know and trust.. sell the house double your cash on cash or better.. pay your tax and keep going.Or invest with a developer and do value add by creating building lots those are easy to 2X or better more risk though.

Given the complexity and IRS risks, consult a 1031 exchange specialist to ensure compliance.This post does not create a CPA-Client relationship.