I've been corresponding with a non profit in CA that is doing work on ADU regulations, etc.

>>For purposes of taxes, consult with a CPA to confirm this would work for your situation, but you could have the LLC be treated as a "disregarded entity" and thus, even if you and your wife are members, any profits/losses would "disregard" the LLC and go directly on your personal returns. 

Not that there isn't some opportunity, but investing from afar, I don't really have the chance to get a crew that can do the rehab on the homes that I think would turn a profit. 

Id like to understand what the most profitable way to fix up a current 1,700 SFR in a 6,200 sq. foot lot would be?

I am simply an "active" passive investor.BTW, I am reading Joe Fairless' BEST EVER book and enjoying it.  

I thought this was simply the right thing to do and did not give a second thought to undergoing this process until after the repairs were completed.

I have a question and would really appreciate your input.I’ve done a couple of fix-and-flip projects in the past using hard money lenders, but I’ve noticed that their fees and interest rates significantly cut into my profits.

As you are partnering with your sister, have a legal document drawn up as to what happens if one of you wants to sell and the other doesn't, how expenses will be split along with money you are putting down, borrowing, profits, etc. 

As a broker, I "buy" a mortgage at a discount from a direct wholesale lender, then mark it up and "sell" it to my client to make a profit.

Send me an email or a message here and I can offer some tips I use to maximize profits in FL.