Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.

If the market continues to appreciate, holding the property could yield more long-term equity gains.

I’ve done 1 rental property and sold it to gain capital and did 1 flip that didn’t go so well so not 100% experienced to say the least.

Now Im looking to maximize my potential, gain some financial independence and start making my money work for me and not work for my money.

Laundromats and carwashes have gained popularity exponentially almost in the 6 years. 

Starting sooner rather than later allows you to benefit from long-term appreciation, build equity, and gain hands-on experience, even with a smaller property.

Im dedicated to learn this bisiness and gain the experience the right way.

I am new here just trying to learn and gain knowledge to start buying my own rentals 

Stay consistent and take calculated steps to gain momentum!

LoL So really trying to learn what I can, gain some capital, and see what my options could be for the year.I'd like turnkey and long term renters in place, as that seems like a good way to get started as a rookie.