Property: HereComp: Here (Sold on 8/1/2022 same street)84 Grangerford Hts, West Henrietta, NY 14586Listed : 100kHML at 80% of ARV (240k) = 192kInterest only payments (10% interest)(192k x .10) /12 = $1,600/monthPoints = 2 (192k x .02) = $3,840Loan origination fee's = $1,000Additional monthly holding costs:- Taxes (5k/12) = $416- Insurance = $60- RGE = $120Total monthly = $596Duration of rehab = 6 monthsInterest only ($1,600 x 6) = $9,600Points = $3,840Origination = $1,000Holding costs ($596 x 6) = $3,576Total Holding costs = $18,016Loan amount of 192k:Subtract:- Purchase price = 100k- Closing costs (4%) = $4,000- Rehab = $50,000Totaling = $154,000Remaining balance on loan= $38,000Sale at $240,000:(-) (Realtor fee's (6%), closing costs (4%)) = $24,000(+) $38,000 Remaining from HML(-) Holding costs ($192,000 + $18,016) = $210,016Profit ($240,000 + $24,000 + $38,000 - $210,016) = $43,984 - (capital gains at 22% completely estimated) = $34,308Buy and hold:Appraised at $240,000.

Can I use Buildium for bookkeeping including tracking all transactions per LLC including mortgages and can it produce detailed reports at tax time?

Hello everyone and happy tax day!

There would still be the transaction (tax) effects if using it to purchase the propertyA non-gimmick situation however would be borrowing against your BTC in dollars so that you don't have to sell anything and see the tax/transaction effects. 

This seems like a waste of the very advantageous LTCG tax bracket (I'm not concerned with state tax). 

Review the seller’s maintenance records to identify any existing issues or potential problems.Do your financial analysis to factor in the current rent, estimated vacancy rate, maintenance costs, property taxes, and insurance to determine the property's projected cash flow.

Its not a sale, no money is being exchanged.Can this be done without paying the Florida tax of .70 per $100?

You're looking in the right place because TX is going to appreciate much quicker over time but the cash flow won't be as much since the taxes are higher.

You'll also owe the 5.8% Idaho income tax on top of that. 

Guys I read a couple great posts here about HELOC for self employed businesses were there are many write offs to show an income on a tax return.