As with any type of investment, investors should list the estimated costs to calculate their potential profit.Costs to consider on fix-and-flipsRepairs (always be conservative)Carrying costs (interest, points)Monthly costs (utilities, HOAs, insurance, taxes)Buying costs (back taxes, cash for keys, liens, code violations)Selling costs (commissions, closing costs, transfer fees, title insurance)Unexpected costs (add $5,000 to be safe)These are the basic costs investors should consider.

Hi everyone,I have a unique situation wherein we placed 3 properties (all located in maryland, baltimore city) into an S corp and looking to transfer at least 2 of the properties out of the LLC into a multi-member LLC partnership.1)  are we subject to transfer taxes or fees for the transferring?

Job transfers and new jobs happen all times of years.  

Both of these have changed with interest rates higher than in the last 3 years and technology making it relatively easy to track deed transfers.

Hey@David Hertz. 1️⃣ Regarding a “subject to” on a hard money loan: It’s a tricky one because most hard money lenders will have clauses that make the loan due upon transfer of ownership.

The buyer requested a transfer from his job to the city where the house is but now the job wants him to start work next week, I told him we can probably let him and his family occupy the property prior to the closing date.  

Also discuss with your tax person if there are any type of tax hits you will take if you transfer the ownership from yourself to the living trust- state taxes as well as federal.A will can sit in probate for awhile, quite awhile.

That being said I will admit that covering transfer taxes both times can hurt your bottom line.  

He posted a question, similar to yours, He said he had 180k in liquid cash and he was looking to buy some 8 unit property where his entire 180k in capital plus more for all the closing costs and interest reserve and transfer taxes and the whole nine it would be near 200k. 

I think you could split after sale for a non-taxable event, the total basis transferred in would be split across the two "new" properties.Calling @Dave Foster to give his insights here, lots going on in this one.