I am an active agent in DFW, and do subscribe to Propelio as well. 

We are looking for a CPA and have 4 rentals - 2 active and 2 in the pipe and try to keep one flip running all the time (4 completed so far).  

Flipping is a high risk activity, and the greatest way to mitigate that risk is through knowledge and experience.

The former is active business income, and the latter is not business income, and is also sheltered by the section 121 exclusion, assuming you meet the requirements.

thanks for stopping by :)I'm here to learn from Y'all and seek some advice!

@Kurt Defenbaugh you can definitely use paper losses from LLC's you are a member off to offset active income from your profession.

I figured that if I buy this note while its non-performing at 28k and sale to an investor seeking a performing note with 35-40% equity then I sale to them at 42k while the asset is worth 62k.

I am an active investor in the area, and I'm hoping to form a relationship with someone interested in working with me repeatedly on numerous similar projects as they come up.Some things to note: I live in California, so must be willing to work with someone remote.

.- Entry price point compared to other talked about areas- Other wildcards like floods and crime activity 

@Stephanie Potter, now that you mention it, I see multiple properties, but I don't necessarily see that there needs to be a blanket type loan here or that he really is specifically seeking that out.