I'm going to guess your costs have gone up (insurance, taxes, utilities) and they should be passed on to the tenant.

Property: HereComp: Here (Sold on 8/1/2022 same street)84 Grangerford Hts, West Henrietta, NY 14586Listed : 100kHML at 80% of ARV (240k) = 192kInterest only payments (10% interest)(192k x .10) /12 = $1,600/monthPoints = 2 (192k x .02) = $3,840Loan origination fee's = $1,000Additional monthly holding costs:- Taxes (5k/12) = $416- Insurance = $60- RGE = $120Total monthly = $596Duration of rehab = 6 monthsInterest only ($1,600 x 6) = $9,600Points = $3,840Origination = $1,000Holding costs ($596 x 6) = $3,576Total Holding costs = $18,016Loan amount of 192k:Subtract:- Purchase price = 100k- Closing costs (4%) = $4,000- Rehab = $50,000Totaling = $154,000Remaining balance on loan= $38,000Sale at $240,000:(-) (Realtor fee's (6%), closing costs (4%)) = $24,000(+) $38,000 Remaining from HML(-) Holding costs ($192,000 + $18,016) = $210,016Profit ($240,000 + $24,000 + $38,000 - $210,016) = $43,984 - (capital gains at 22% completely estimated) = $34,308Buy and hold:Appraised at $240,000.

Can I use Buildium for bookkeeping including tracking all transactions per LLC including mortgages and can it produce detailed reports at tax time?

Hello everyone and happy tax day!

The income will be subject to the self-employment tax (medicare and social security) as well as income tax (they can claim expenses if there were any in them performing their services). 

This seems like a waste of the very advantageous LTCG tax bracket (I'm not concerned with state tax). 

There would still be the transaction (tax) effects if using it to purchase the propertyA non-gimmick situation however would be borrowing against your BTC in dollars so that you don't have to sell anything and see the tax/transaction effects. 

Its not a sale, no money is being exchanged.Can this be done without paying the Florida tax of .70 per $100?

Review the seller’s maintenance records to identify any existing issues or potential problems.Do your financial analysis to factor in the current rent, estimated vacancy rate, maintenance costs, property taxes, and insurance to determine the property's projected cash flow.

You're looking in the right place because TX is going to appreciate much quicker over time but the cash flow won't be as much since the taxes are higher.