You should do the following to reduce your taxes1) Keep track of your expenses - Amounts paid for RE Taxes, insurance, rehabs, travel costs, materials, etc2) You will want to see if you can deduct other items such as health insurance and have an alternative retirement account plan3) See if it possible to buy long-term rentals and then be able to offset income from flipping with losses from rentalsbest of luck

I selected a specific area in Houston, bought a crap house for $75K when EVERYONE told me it was a bad deal and my interest was double digits (which sucked but I didn't plan at all and my only option was owner financing), did as much of the Reno I could myself (around $25K or so, stopped at HVAC, roof, foundation, etc) rented it out for 5 years, made over $100K doing so, and then I was ready to put another $60K into it to quadruple the purchase price but my health deteriorated and I sold it (for double what I paid).  

Hi everyone,I am in the middle of a dilemma, and cannot find anything online or anyone that has gone through the same situation.I have three properties, all in the same state (not the same state I live), I have conventional loans in these properties, the loans are in my name.

. - Make sure you get a security deposit and perhaps do a surprise inspection of their current home.S8 requires an inspection (mostly health & safety) before approving a lease and then annually thereafter. - Not something most landlords taking care of their properties have to worry about.There are limits to clauses they allow in your lease.

Without going into details, it belongs to and has been managed by a family member, but do to health issues they are no longer able to manage the property or give advice.

@Scott Trench the study you posted as then vs now shows a lot of interesting trends that I do agree indicate better health and quality of life overall, however only one of those charts touch on housing affordability.

I’ve been through a lot of investment property dilemmas.

Now to our dilemma.

I’m in a huge dilemma and I really could use you professionally help.I’m currently a resident in Milwaukee WI.

I’m in a huge dilemma and I really could use you professionally help.I’m currently a resident in Milwaukee WI.