They'll also then be able to reflect these strategies on your return.If you are going to be doing lots of deals, consider a CPA that understands setting up systems within your business that can help you make better decisions and make more money (weekly profitability reports by property, weekly project reports on rehabs, etc.)And finally- if you are planning on doing your own taxes, don't do it the first year.

Hello BP,I have stumbled across a prime piece of commercial land that would be profitable to develop as multifamily apartments or retail space.

Would that work as a rental, or could you sell it for a profit?

Renting will yield a smaller cash flow but flipping might produce a larger profit, quicker.

FHA is good due to the low down payment but the up front MI is very expensive.... in addition, you have to add .8 to your rate which is going to be your monthly MI so it will eat into your monthly profits; you cannot drop the MI, you would have to refinance to get rid of it. make sure you properly calculate the payment with all escrows and re-run you numbers...

It is now just about the numbers .If the calculations make since and you will come out with a profit , then go for it . 2.

It is more an owner operator business just generating enough income and profit to keep the lights on.

There are lots to consider, can you force equity with minor cosmetic upgrades to sell at break even or profit?

I am trying to find the best thing to do with the profits.

This area has a good appreciation rate so down the road we can rehab and sell for a profit.