If it's your primary residence, you'll be able to keep any gains tax free if you've lived there 2 of the last 5 years.

Also besides residential there is commercial and industrial lands and a host of zoning issues.Each aspect and real estate type has maybe similar, but largely different skill set requirements. 

Quote from @Laura Kreinbring: What do you think about what the platform professionals told me:So you use experts from one free forum to validate the expert from another free forum?

When purchasing a BRRRR property, it's super likely that at least some of the neighboring homes will be in less-than-ideal condition so you want to give it time for those models to go under some rehab hopefully and appreciate which will help your appraised value at the end of the seasoning period so you can maximize your cash-out.If you have any additional questions - feel free to reach out!

Lower income areas tend to see lower rents, slower rent growth (Outside of initial renovation).And, if you are taking out commercial loans, there will be a DSCR test along with the appraisal and LTV.  

If you have any questions, please feel free to reach out. 

Is it FREE to apply for an EIN?

Good luck on your journey and feel free to reach out if you ever need any guidance or advice.

I am in Los Angeles and do inspections on single family homes as well as commercial properties.

I personally like to buy real estate that has A) excellent long-term prospects ie. area growth, commercial vibrancy, high housing demand, rising rental rates and B) positive or at least neutral cash flow.