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.

My real estate journey started with a single investment property in Putnam County, Florida, and I'm actively working to expand my portfolio and acquire my next property soon.

I have REPS by actively and materially participating in my rental property portfolio, and also work as a real estate broker full time (1099 collecting commissions through a single member/purpose LLC) from buildings I sell.My losses from my rental properties (LLC #A) largely offset any federal and state taxes from my brokerage business (LLC #B).

Second, I let the tenant know I know their criminal history and tell them to leave.

For my wife's account we had to pay a $75 one time activation fee and that was it. 

I only recently became licensed, so I would have a long way to go in order to comply with the 2-year experience requirement, but I have been an active investor for 5 years so I am wondering if I would fall within the 3 year exemption, below:- Have at least two years of experience as a licensed real estate salesperson or at least three years of experience in the general real estate field or a combination of both- Meet the minimum points required for the experience type (e.g., buying and selling your own property, managing property owned by your employer)Thanks in advance! 

Also the expenses should be reported to the business activity (the property) they legally are generated from; not necessarily the entity they are paid through. 

I’m actively working on agent outreach and direct-to-seller approaches and would love to collaborate or learn more about your investing criteria.This community has been such a tremendous resource for me, and I’m eager to give back by helping others find great opportunities in Columbus.

I love that you have found passion in REI and have laid down a path to success with your three approaches.Of the 3 activities you are in, do you prefer one over the others? 

I presume your intention is to be an active investor who owns physical real estate and not someone who invests passively.