Hey Ralph,Typically if you sell a property or any asset for a gain within 12 months, you pay capital gains tax at your tax rate. 

It had a, what some may call, high entry fee in itself.Private lenders as you probably already know lend on/against assets, opposed to your DTI, etc.

In addition, the owner of the home must not own more than three single-family homes.3) They are unable to provide sufficient documentation, such as the emotional support animal letter, that verifies the ESA is necessary for their health and well-being.4) The tenant provides fraudulent documentation attesting to their need for an emotional support animal (usually a fake emotional support animal letter).5) The landlord can demonstrate that making accommodations for an ESA would impose undue financial burden or logistical burden. 6) The animal is destructive to the property or displays threatening behaviors that could put other tenants or yourself at risk.7) The size or nature of the animal makes it impossible to house safely or humanely.

Here's exactly what I'd do in your shoes: 1) Build a solid team -- Agent, PM, Contractor, Handyman, Lender (all local pros)2) Invest in a Turnkey Duplex or SFR just to get your foot in the door and learn the area3) Then, with money left over Invest in a BRRRR and recycle that money indefinitely as assets appreciate / force appreciate4) Acquire a large fleet of Indianapolis rentals as the city continues to expand. 

As you gain experience and financial stability, you can transition into investing in short-term rentals.Continue Learning and Networking: Take advantage of your time in college to continue learning about real estate investing and finance.

If you qualify conventionally, any bank will use your income, credit and assets to get your loan completed.  

The renovation will convert a row single family home into 3 family home ( the layout is already there ):- the first flow will be 1 bed, 1 bath- the second floor will be 2b, 1bath- the basement.If those 3 rents, I can easily have $1800-$2000 in gross rent per month.So any creative financial idea I can propose to him?

Given you will be spending on average 10k per trailer to rehab and then selling them for far less- they are worth nothing and due to the financial risk they are more of a liability.  

I learned a lot of about seeking out potential properties and financial analysis.

I understand that as one acquires more types of assets, taxes can become more complex, and I want to ensure I'm maximizing my savings.Are there any CPAs in this community who also own real estate and could offer guidance or share their experiences in navigating taxes as a real estate investor?