Seeking guidance on how best to exit a partnership mid-flip and the tax implications I should prepare for.Detail and timelineI bought a duplex in January for cash - standard closing with the buyerIn May I let a partner buy into the deal with cash and had his name added to the deedthere was no recorded transfer of $$ at this closingMy partner is now offering additional cash to buy me out of the partnership and take over 100% of the dealHoping to better understand at a high level what the typical path forward would look like in this scenario ?

They can dig up reports for 9.99, pretty amazing data.

Never be afraid to ask questions, and expect clear, data-backed answers.

I’ve made a couple posts here and I got some amazing advices and now that I have a full time IT job at a data center my next question is should I just save up and then do a flip or should I try to get into a seller finance multiple family property.Then rent out the units and maybe even rent out the rooms in the unit I stay in and from then I would have money saving up while buying for a property I will own in the long run and also could do flips after a year or 2?

My goal is to live in one unit until I can refinance, and then transfer my VA into the next quad and do it over and over again until I have enough cash to finance myself!

Do we need to transfer it to an account and then use it for multiple down payments on 3-5 cash flowing properties if we can find them?

What I would do is meet with your accountant a couple times a  year and discuss a projection for tax time, then you can plan to have 2 separate accounts if you wanted for repairs and for profit and auto-transfer funds to both.

My second spreadsheet is mostly pulled from census data/trulia/zillow (so I take the numbers with a grain of salt) but it lists on the X axis the zipcodes as well as the county as a whole.On the Y axis it lists: average listing price, median sale price (90 day period), median sale price versus last year, price per square foot, price per square foot versus last year, median rent per month, vacancy rate, annual property growth value, number of rentals on the market for that month, median rent versus last year, median rent divided by 1BD/2BD/3BD etc etc, median age, median household income, school districts, single residents, college educated percentage, percent home owners, population growth etc (there's more but I feel this is sufficient to get the point)3.)

Thanks for the awesome in-depth data and references.

You just don't put in any financing data or make it zero if it is a required field.