As for financing, make sure to explore options for using rental income to qualify, and be prepared for a 20% down payment.

After you’ve found a few options, review them with your agent.

Yes, House Hacking seems like the most ideal option when considering my first investment (open to other forms of ownership, such as live-in flips as well).

So far NNY Homes has stood out as the best available option.

I reviewed about a dozen options.

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.

@Paige Gardner it depends on the person. hml are my last resource, it's a option for sure. 75% too high for me. that's the game for them, that's how they make its money. don't take it off the table but definitely explore ur options. 

Hey Kaleb,If you’re looking at markets out west or down south, those can be great options, but I’d also recommend checking out Detroit.

There's nothing wrong with considering them along with other options, but I would be careful thinking they will get you more bang for your buck or a more honest operator.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

I would start there and think of anything that I could do to stay in the house for a while as it sounds like you would be losing a bit of money with the other options.