Tax-wise, profits are taxed at your ordinary income rate, and frequent flips may subject you to self-employment tax if classified as a dealer by the IRS.

Simply put that money in your pocket and save it up for repairs. 

We had a plan to build a large real estate portfolio and then sell it in five years and divide the money.

If you find something that works well as a short-term rental, but doesn't work well for you as a home, you'll have money but be dissatisfied when you live there.You don't even need it to produce a profit.

It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.Happy to connect to discuss further. 

Worst case you have zero money and you pay interest for one month on $330 for an “expensive” repair. 

Ensure lender approval before bringing the mortgage current, and use escrow or a lien to protect your money.

We will see.Good news....they haven't asked us for any more money....yet. 

You can make a lot of money, but be warned, a large % of Section 8 tenants are complete savages.

Then once you spend the money for that.. then the contractor will simply file a UNJUST Enrichment claim so your back to square one..