Or bad stories such as this?

The income will most likely be taxed as ordinary income at your marginal tax rate, plus you're likely to be on the hook for self-employment tax for some/all of the income as well, depending on how you've structured the LLC.Long story short, flipping is *not* a good way to shelter taxes.

This condo building will most likely be bought and torn down in the next ten years (wood structure, 4 story, 1995 build), but until then I have great tenants in the unit and it cash-flows very nicely since I was able to purchase it right before condo prices saw roughly a 20% appreciation.

Aside from that short back story, I have intentions of becoming an investor in the Oklahoma area or if God’s Will takes me else where, then it’d be out of state then so be it.

I brought 2 stories house in 2007 around 200k and paid off the mortgage in 2017.

Are you saying that rent rolls won’t tell the full story and I should ask for bank statements showing those deposits?

Long story short, this fell through, and I was extremely discouraged.

Long story short, this fell through, and I was extremely discouraged.

But that is another story that involves bourbon, the Super Bowl and boxing gloves. 

In particular, there is a large garage with a second story that I could use to create another unit, which I'm sure has not been figured into the ARV I've seen online.