With this type of YOY growth, you can re-invest you equity into upstate or OOS markets (i.e.

This is pretty clean.Scenario 2:  Your partner has owned the house for 15 years and has been taking accelerated depreciation, so the book value of the house is very low. 

Would love to hear the community’s thoughts—especially from experienced landlords, property investors, or those who’ve explored fractional real estate investing before!

After some research I'm we've narrowed it down to the OKC and Birmingham markets.

Hey @Brad TooleyIt’s great to hear that you’re planning ahead and doing your research before jumping into your first deal—that’s a smart approach!

Any advice on starting out on this in the Houston or Katy market?  

As you mentioned intentional flips are typically considered inventory-This means the income is ordinary income and as such: - Is not a capital gain, so hold time of 1 year does not change to a better long-term capital gain rate - Can not be invested in a QOF Deductions related to it can't be pushed or changed- all costs are accounted for with the inventory component 

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

I have 3 associates / relatives that would be doing my renovations, as I would be finding, analyzing, and purchasing the deals. 

Then rent the bigger home out using a property manager, allowing her to possibly cash flow and maintain that asset and let it continue to grow in value.Encourage her to consult with a CPA or tax attorney to explore the best strategy tailored to her situation.