If you had identified the property, the cost and the travel cost would have been added to the basis of the property and depreciated.These initial investigatory costs are treated differently for flipping and rentals.1) Flipping: The travel cost to investigate will be treated as a business cost and deducted as an ordinary travel cost.

Always have a clear exit strategy, whether you plan to rent, flip, or sell the property down the line.If you or your son are looking for more hands-on guidance, feel free to reach out directly.

It’s all about finding someone who understands your goals (buy-and-hold, flips, etc.) and knows the market inside out.

If you're working with an investment brokerage, I'd recommend tapping into Tampa and Central Florida markets too—areas like Riverview, Wesley Chapel, and Brandon have been strong for both flips and long-term holds with steady demand.

I have flipped multiple properties mostly land and SFH.

On the flip side, if you've got a bunch of Section 8 tenants living in a building that's in a neighborhood where a lot of the tenant base has good jobs, high credit scores, and are generally reliable people, you've got the most risky tenants in that tenant base and that ain't what ya want.

If you’re near hospitals or seasonal hotspots, it’s worth considering.Flips: Flipping can work if you’re able to find distressed properties at a discount (good luck—it’s tough right now!)

Typically, since I'm well connected because of flipping, HVAC, roofers, lawn care, carpenters, kitchen & bath & plumbers and electrical all are good sources.

I have been looking into what kind of lending options I would be eligible for on properties for BRRRR or flips.

Over the last several years I've been in a heavy cycle of acquiring and building rental portfolio, flipping, contracting, and being a realtor.