Hawaii law requires an on-island manager, but in order to qualify as an active business I’ll need 100 hours managing the property so hiring a regional manager may hurt my tax write off plans.

As a result, we need about 3.2k per month for mortgage + property taxes.

Hi everyone,I have a few questions regarding the tax implications of flipping a property in Florida:1.

It's quite common for lenders to use raw land as collateral for new construction loans, especially if the land is owned free and clear (which a lot is).

It's generally coinsidered that you don't need an LLC until/unless you have many properties.The advantages you may hear about - liability protection and tax savings - do not really exist.

Are you sure the landlord collected May rent or maybe used one months free rent as an enticement to rent the property?

He has talked up the tax benefits that I could take advantage of by making such an investment. 

Start with BiggerPockets Ultimate Beginners Guide (free).

I do agree with you though that if you want truly risk free, passive cash flow... buy T bills or open a CD. 

Professional inspections, real estate attorneys, and property management are essential.Good luck with your house hacking journey and feel free to ask for further assistance.