What you can do to offset this profit is to invest in syndications that do cost segregation studies (which will lower your tax you pay).

Unfortunately, North Jersey is probably one of the hardest BRRRR markets in the country right now because of extremely low inventory, high demand, and pushed up prices because single-family home buyers are buying the properties that we all used to buy to fix up because they are desperate.You can BRRRR, carefully, into many parts of Pennsylvania though but remember that interest rates right now make it very hard to BRRRR.

I would follow all of his free stuff before you buy anything and realize that when you pay for something, you want there to be others paying for it that you can be involved with in real life because that is where the magic and long-term relationships happen.

For smaller amounts I just pay it back as quickly as I can.

Then you can buy another cash flowing asset.

I’m not so concerned with how to turn them on, it’s more what immediate issues may I encounter when doing so and how can I mitigate them.

Sounds like you are so it can work. 

If you are worried about being sued, there is an argument for opting to just get umbrella insurance.For your specific situation you could consider speaking with a RE attorney or there are services that can help you set all of this up.

I suggest you look for clarity on what resources you can use or companies can assist in using a small piece of that equity as a downpayment on another high-quality asset like the one you already own.

My contact has been non-communicative and I'm wondering if he's experiencing cash flow issues and just trying to bide his time, or if there's a deeper issue and he's on the verge of bankruptcy.Any advice you can provide for this situation would be GREATLY appreciated.