Anyone ever gift property to a non-profit.

I would hope the extra two weeks of holding costs wouldn’t kill your margins.

@Steve Lee ,  I used to live in the area,  base on your loan amount,  the numbers may be good but base on the market value and the possibility to repositioned your equity  in something more profitable   the numbers are not so good,  I really not expect that prices to go higher,    there are more options to put your 200k equity to work for you. 

It's a multi-member LLC, and I know we have to pay taxes on the profits (minus allowable deductions for the business), but how are the taxes paid? 

Hypothetical numbers... if we had $50,000 of "extra" depreciation after accounting for all profits in our real estate, could we then use that $50,000 against $150,000 of income from our insurance business?   

We made a a profit on the house, which was minimal mainly due to paying a little too much but still proud of fixing it up!

A good Realtor should know the market well enough to help guide you towards the potentially profitable areas. 

How can I go about successfully getting the FHA loan and making a profit on the apartment?

The advice I see is that you make your money going in, I have my eye on something and I have my final offer in mind, but my two cents is as long as the price allows you to profit...Never go over....GOOD LUCK!

I want to use a portion of my LLC profits to purchase real estate.