The good news is, my girlfriend lives with me now....she had no idea she was going to learn a new trade!

. :) In a recent thread all the "people" came out swinging (except for a few astute investors) telling me to accept the first qualified applicant.

Originally posted by @Sean Carroll:@Steven Lopez you could always open a self directed IRA (not sure on the max contribution) then place the profits in their to lessen the tax burden and still be able to use them to invest Income or gains from an active trade or business (such as flipping) inside of an IRA will be subject to UBIT, which tops at almost 40%, not exactly the best strategy.

Managing more than 1 very low income property is a serious drain on time for an investor in most cases, but the trade of is typically the cash flow on paper numbers are better which draws people in to these investments.

If you do this, remember you pay taxes on the full rent amount, not the reduced amount traded for services.

You would also have to source the land which would vary based on location.With the guys I have I would only need to contract out the foundation and the licensed trades and my guys could complete most of the work saving me the developer cut and contractor profit. 

After these trades are done, I can install new planking at the bottom and use blow-in insulation to fill the wall stud cavities.

Generally ( do your own due diligence) as long as there is a safe egress path out of the unit i.e. a swing door not the roll up garage door, and there is an egress window out of every bedroom you should be able to make it legal.

From my perspective, if you are getting a property at a price of 17K that has a ARV of 79K, there must be a lot of work needed (and possibly other factors that make the property non-desirable at the moment).Although you can make a lot of money via fix and flip through problem-solving, I think you will need to disclose more information about the property (address, info on rehab cost, how are you are getting this ARV, etc) before you can get a good answer to your question.I would suggest connecting with a local realtor there for more help, or seek out someone on BP who is active from the area (even a property manager could help) to assist you with sorting this out.I have some experience with fix and flips in my past, and they are absolutely nothing to play with for the beginner unless you have a lot of cash set aside for the unexpected (and there will be unexpected costs) or some experience in a trade where you can offset cash for your labor.Good luck and happy hunting! 

I didn’t buy this for a BRRRR but I think I could swing it.