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.

I don't have the 10% for the down but thinking of using a HELOC to get the money and then add it into the calculator.

Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.

You would also want to add the LLC entity as an "Additional Insured" party onto the landlord insurance for the property.

These are professionals with additional training and a stricter code of ethics.

Additionally, add in the ambiguity/risk of the due on sale clause or ramifications on the conventional loan of transferring the property from your individual name to an LLC - the economics don't make sense, and the headache isn't worth it even if it did, in my opinion!

Put the answers together and post on Classifieds Forum.Feel free to post answers here for additional constructive feedback:)

Also, be sure to check with the section 8 agency managing the tenants - sometimes if you pass on an additional cost like that they will no longer be eligible to live there if the rent and utilities exceed what they were approved for.

As a limited partner, you would be able to participate in the project without being involved in the day-to-day operations, while benefiting from the potential profits upon completion.If this sounds like an opportunity you would be interested in, I would love to discuss further and provide additional details on how we can collaborate.Looking forward to connecting soon.

Oh, AND I get to add some new additional handcuffs to the mix.Zero sense, it makes absolutely zero sense.