If you buy and sell the property in less than one year, the gain is short term and is taxed at your ordinary income tax rate. 

The operating agreement also defines what's considered ordinary management of the LLC and what's not. 

We're seeking recommendations for flooring contractors to bid on tile removal and wood floor installation; bathroom / shower tile replacement; and a finish carpenter to install crown moulding, wainscot and replace sliding patio doors with French doors.This bid is for our personal residence, as well as future rehab properties.

For improvements, a deck or patio can be a good investment.

I wouldn't transfer her lease unless she agrees to no smoking on the property period, that includes decks and patios.

And future leases should state:  1.If Tenant elects to cook outdoors on the patio, the barbecue grill is to be kept a minimum of 15 feet away from the house, and stored outdoors at all times.

Here's what mine says, in part (small MF):(k) Yards, patios, balconies, vestibules, hallways, and entrances may not be used to store belongings or to dry clothes.

They should take pictures of anything out ofthe ordinary and report to police.My wife's hair salon got tagged with graffiti.

People still tried to break into the house to get it so I left it on the patio for everyone to see.

Also, flipping profits are not cap gain taxes, they are taxed as ordinary income.