.: Quote from @Chad Hale: I used QB when first starting my property management business.

I have recently been made aware that I get straight to business without really concerning myself for the sellers side of the story and when you have the sellers problems, goals, etc.

I inherited a partnership in a 22 unit commercial building with 8 restaurants, a grocery store, a couple of personal care services, and various other businesses.

While personal loss is difficult and understandable, running a business that directly impacts property owners requires a contingency plan.

I am a business loan broker and there is a way you have to apply in order for it to work.

Does anyone know if Stessa is going out of business?

Financing through a personal loan usually offers better rates and lower costs, but using an LLC builds business credit for future investments.

However, you can reduce tax liability by:Converting the flip into a rental for at least a year, allowing for depreciation and potential 1031 exchange benefits when selling.Offsetting gains with deductions, such as accelerating business expenses or using cost segregation for rentals.Using an S-Corp for future flips to lower self-employment taxes while keeping rentals in an LLC for liability protection.Deferring deductions to 2025 if your 2024 taxable income is high.While a 1031 exchange isn’t an option for flips, strategic tax planning can help minimize taxes.This post does not create a CPA-Client relationship.

You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!

His team is adding a course on buying businesses, and they are also working on adding Real Estate College Semesters and learning badges.