Hey @Jason Eberhardt,Income from flipping properties is considered ordinary income and is also subject to self employment tax.

If you are doing flips it’s ordinary income.

Ordinary citizens find it deeply questionable.

Originally posted by @Brit Hale:@Jefferson Brown any chance you can recommend a solid Realtor in the Destin/Miramar/Santa Rosa area?

@Brit F.

@Chris Mason yeah thats essentially what i thought, was just wondering if there were other opinions out there. also, this is the first time i'll be doing a deal by myself and going all cash makes me a bit nervous, ie what if i can't get a loan after the fact for whatever reason, that money i had in equities earning 8-12% per year is now tied up earning like 5-6% in rent :( @Brit Zamoyta thanks for the comprehensive list...i'm definitely going to be starting off in residential (Quads, etc). its good to know you can only get 70% of purchase price if you refinance immediately after closing. i guess the other option is to just wait 9 months and then get a 75% loan on appraised value (hopefully after increasing the value somewhat). 

Also, any profits of the LLC become active, ordinary income as I recall. 

Im just an ordinary kid trying to live his dream.

But you do need to print up a simple OK real estate agreement and fill in the blanks.If you sell the house, every dollar that you sell it for that is higher than what you paid for it will be taxed at your ordinary income rate, since you are holding it for less than a year. 

Or was the business sale ordinary income and not real estate?