My question is what's the best way to report my income on this and also reduce taxes?

If you like dealing with the stress of contractors, permits, and flipping then go thar route OR if your more of a passive investor like me.

HELOC is a great option, just be careful with regard to the lender being able to reduce or even close your line at any given time.

@Gaganpreet DubbThere are a lot of tax considerations when foreigners(non-US Citizens / non-US residents) invest in the United States.1) Do you need to apply for an ITIN2) What is the best entity structure that will have your taxes reduced in both the US and your home country3) Is there a Tax treaty between the US and your country - If yes, how does that effect things?

Given the strong cashflow we decided to keep it for our portfolio instead of reducing the price.

Given the strong cashflow we decided to keep it for our portfolio instead of reducing the price.

Super stressful for the family, but got the cash I needed to move forward and buy what I consider to be a unicorn deal off Craigslist.

Most lenders will count the land as equity so, the amount on money you need to bring to the table is reduced.

If your thinking about using hard money, you need to be able to move quickly on renovating properties to avoid additional financial and mental stress of a hard money loan.

Still a lot of stress for sure!