Getting everything set up and researching as well as connecting with great contractors and mentors to get ready for my first flip.

@Dan Kiely, I have connections to multiple investor-friendly Agents around Houston with great deals like you described...

Thank you @Sean Graham and Account Closed for your responses.Zachary, regarding your statement: "However, for the strategy to be effective, clients must ensure that they meet all the IRS requirements, such as maintaining the short-term rental for a sufficiently long period and passing one of the material participation tests (e.g., 100+ hours of active participation)."

I wanted to be close to the Bay Area but have better landlord tenant/laws, strong appreciation, low property taxes, diversified job growth, population growth, etc. 

Some savvy flipper reconfigured the upstairs to add a bedroom but in the process, closed off most of the attic, leaving only a crawl space that did not even allow access to the entire attic!  

Purchase price: $350,000 Cash invested: $12,000 We recently purchased a townhouse with a grant that covered nearly $20k for downpayment and closing costs.

We do 7-8 flips a year and always use the same local closing attorney. 

Look forward to connecting and learning with you all. - Steven

Here’s where it gets wild: right before the holidays, we not only closed on the house but also helped her move into an extended stay hotel.

You will also need money for closing and an emergency fund.