I always recommend my clients get fee sheets from a few different lenders to compare.

You can flip anywhere that you can market to motivated sellers, and purchase properties at a discount compared to ARV.

Jose,While there are many different benchmarks to compare an investment to in order to gauge success (excluding subjective meanings of success), an easy comparison is one made against the stock market (i.e.

[As a general rule-of-thumb, ex-primary homes reap very poor cash flow, compared to pure investment buys!

I wrote the above for informational purposes.

Get a few contractor estimates to get it up to market comps and compare what you could sell it for fixed up vs as is.

Your LLC is a Texas LLC for legal liability purposes, and it is treated as a partnership for the IRS purposes.No changes needed.If the second member is your wife - you will simply report your rentals on your personal joint return.

And remember, since you are using leverage your return will be higher compared if you were using all cash purchase.

I did mobiles, looked into self-storage, vacant commercial property and re-purposing old white elephants (old warehouses) or motels or toys r us's or any number of failed brick and mortar structures with motivated sellers. 

So if I follow, you would be taxed based on the GAIN of the sale of the property compared the the amount that you depreciated the property?