It would be worth your while to have an accountant who knows you and your income streams etc to answer your questions like this.

On your profile put your location. 1-Get a great Realtor. 2-Get a great Contractor3- look at properties. 4-Save your down payment money 5- Get your credit rating cleaned up.

There could be some truth in this, however this is accounted for generally in the laws of agency.

After ten years compounding at 5% that amount would be worth $1,348,602, which would really be $1,256,344 after accounting for LTCG @ 15% (1,348,602-733,500 * .15).Final amount for condo conversion: $1,256,344Pros: After money is reinvested, passive incomeCons: Taxed twice, once on sale, once when investments are sold, no real control over money once investedScenario 2: 10 year holdI pasted my numbers at the bottom of this post so it's easier to see, but my thought process was as follows:1) Calculate value based on reasonable appreciation trends, plus cash flow.

Hey Account ClosedI can't speak too much into the LA market specifically, all I've seen personally is that a BRRRR-strategy in LA is tougher because of property values.

I have a primary residence in NJ that has equity, I have liquid cash around $50k, and my credit score is 740.

This could include reporting expenses, depreciation, and other relevant information.Filing a tax return allows you to take advantage of any available deductions or credits that could offset other income or reduce your tax liability in future years.

That being said, as a licensed real estate agent, there are MLS and brokerage dues you'll have to account for.

A mistake I often see with these kinds of structures is it works when the deal goes as planned but when things go badly, those scenarios aren't taken into account. 

I also want to use this time to improve my credit score since it is not in a very impressive place right now.