If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Hi All, any input on renovating a house and possible tax exemptions under an LLC?

@Tyler Speelman, A 1031 exchange solves the tax issue. 

Hard to give good advice without more info, but since You are single no kids it's hard to beat buying a single family fixer upper and living in it for two years and then selling for tax free profits....I'm a big fan of Waltham these days $.02 

.💡 Tax AdvantagesThis is where my tax brain gets excited!

This is down the alley of tax liens.Yes, deduct the lien from a sale price.

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

At least now your tax basis is $220k ;-)  What was the extent of the repairs?

Since you're looking to expand into Florida and other states, I'd recommend starting by narrowing down your focus:Market Research – Florida has great opportunities, but each state and city has different laws, taxes, and demand drivers.

This is day to day spending, rent collection, tax/utility payments etc. (1) account for all security deposits, (1) account for parachute fund, capex items etc.