I've always been told to buy & hold in the partnership, but do flips in an S-corp for cap gains treatment. 

Cheers mate,I've said it so many times before.Who is not happy from within, will never be happy with anything or anyone else.Many unhappy folks look for a victim, be it in their personal life or a business.Like a drug to an addict.They thrive on drama, disputes, problems, arguments, etc...Simplicity, common sense, higher moral thinking aren't an option.Procrastination, fear, complexity, disagreement, doubt, jealousy, greed, etc... is what drives most of their psyche.I've had thousands of investor calls over the years and can literally predict exactly what to expect based on demographic, culture, nationality, age, etc... and by listening to the questions.But sometimes, I read it wrong like in this instance. 

They confirmed that the majority of their calls to this area were for drug overdoses.  

, do you want someone with misdemeanor drug charges on their background)  How do they source contractors for repairs?  

To include, stealing from businesses, sell drugs, etc... but what my area and CA is hard on is environmental violations.

I give pre-access drug screens to travelling contractors that come here to work short term jobs in a refinery. 

Here's some information I've compiled which I'm hoping will be helpful:Section 1231 of the Internal Revenue Code addresses the treatment of gains and losses from the sale or exchange of property used in a trade or business.

I was certain, but could not prove, that one side was dealing drugs due to lack of job, constant smell of pot in the apartment and rent always being paid in cash.

If you plan to move in and owner occupy you’d rather move it in to your name so you can claim 100% sec-121 tax free treatment which you can not do if the LLC owns it and it was a rental first.

He also told me that he spent the last 10-15 years off and on homeless and was a drug user who's been clean for the past 4 years.