I’d like to get my feet wet with a flip or two before transitioning into long-term buy-and-hold properties.

It’s in a great area with strong tenant demand, making it a solid long-term investment.

long term buy and hold is my strategy and i wanted a location that was close enough to DT Houston so it would be in a desirable location in terms of work/school.

It keeps the books clean and separated between our short term investments and long term investments, which have a different thesis for each investment type.

Quote from @Jon Martin: Quote from @Michael Baum: I have heard they have been revamping their STR section but it appears that it is a long way off. 

Yes we should have fired him a long time ago.

LLC Taxation for FlippingSince you’re flipping the property in under 12 months, the IRS usually treats it as ordinary income because it’s considered a business activity, not a long-term investment.

Recharacterize part of the sale—potentially changing capital gains treatment (talk to a CPA)Usually it is something like this- Short-term (0-3 years): 5%, Mid-term (3-9 years): 4.5%, Long-term (9+ years): 4.2%I also watch Pace Morby and this here are a few things he does or I think he does: Price Adjustment: Sellers increase the sales price instead of charging interest.

Quote from @Dan Hertler: I currently manage some of my out of state rentals, but would like to create my own property management business locally in New York (Long Island). 

Owning a few long-term rentals in one LLC usually makes a lot of sense and will save you a lot of time and costs.