My initial concern was that I didn't want them to get double "penalized" on taxes.

Would love feedback on initial pro formaView report*This link comes directly from our calculators, based on information input by the member who posted.

So just take that into consideration when talking to lenders as well as when running your initial numbers to make sure that you account for a 6+ month holding period as opposed to 4 months or whatever it may be. 

I'm brokered out of Keller Williams and I know most other agents will beg and plead you to come to their brokerage but the Keller Williams reputation speaks for itself and I know the teams KW has in Tampa are killer! 

If you had identified the property, the cost, the travel cost would be added to the basis of the property and depreciated.These initial investigatory costs are treated differently for flipping and rentals1) Flipping: the travel cost to investigate will be treated as a business cost and deducted as an ordinary travel cost.

I know we spoke a few months back when you were looking initially and I mentioned my office Vanguard Realty in West Chester.

My initial thought was to buy and hold for a while, but didn't think the housing values would increase this much in this short of a time in my area.From an investment perspective, would you sell or keep the rental?

Although that may be a good place to start, the time it takes to get there will be longer than you are initially anticipate.

@Ryan WilliamsonYou will probably not get a conventional loan for an LLC.But you may find a commercial loan with a local bank.You will definitely need a personal guarantee initially until your LLC can show enough history.Start building relationship with your local lenders.

But if I’m paying cash and the initial loan is covered, do I make the same calculations for each additional purchase?