My goal is to hustle and gain the knowledge it takes to succeed as a real estate investor. 

@James Holmes I do residential and multifamily investing, passive and active, in multiple markets in the US.

If you haven't already, I would actually suggest trying to gain some experience flipping houses first - even if it's by assisting pr partnering with another investor on a few flips, to learn the lay of the land and pad your resume, so to speak.Beyond that, you need to do both actually.

My ultimate end goal is to gain financial freedom through real estate rental properties.

I am a full time carpenter in the union and very eager to put my tools and knowledge to work for myself, and by doing so gain financial freedom.

Instead of being neighborly and asking them to keep it down, you try to make a scene by passive agressively standing there and making wise *** comments. 

However, you can only defer the capital gains tax.

I am assuming that you are referring to the fact that as a house flipper you will be paying ordinary income rates rather than the lower capital gains tax rates.I suppose you can look at this as a penalty, but I wouldn't look at it that way. 

I am excited to get started and to be a member of the BP community, and hope to gain the knowledge and advice I need to better my financial future!

We started the LLC 10 years ago and Purchased the 2 properties at the same time for $160K the contract is for $350K and Im looking to pay around 50K in Capital gains taxes federally and to the state of CA.