However, if you have substantial equity in it(based off comparables) after rehab you may look and buy & hold as a feasible option.

But, I have noticed that in two towns that have comparable populations, amenities, etc, that similar houses in each town have a big difference in taxes.

I am told I will be pre approved because of the difference of money I made in 2013 compared to my 2012 income (Im self-employed).We started an LLC S-Corp & have not yet transferred homes there for fear of having to pay off the remaining equity sooner than our 30-year plan; I've heard in 3 years its possible?

To our Flippers out there:

I'm wondering about a few questions related to a CMA for a property you're interested in:

Would you always personally do a CMA or have your agent/broker do it?
How much time...

I'm familiar with straightforward quick flips, but this seems more complex.Could someone suggest key protective terms to put in place, or a source for boilerplate LLC operating agreement language to compare against?

You could look at the market comparables for your triplex - closing costs - your current loan balance = your net proceeds or net equity.

How good of a deal is this compared to what you typically see/buy/find?

We just didn't have the knowledge to be confident in doing so.I have to say that BP is a great source of info and although some things are different here in Canada compared to the US market, I have already gained a lot of knowledge.

What do your sales comparables report for tax amounts versus your deal?

Looking at my own portfolio, the income from my properties is negligible compared to appreciation.