Watch them closely, learn what they actually do, and make this decision after you get some experience.

Hi Jerilyn,Congratulations on your decision to flip houses!

A "One Off" is simply one asset trading by itself and not in bulk (more than one).

Perhaps that also swayed the decision, although I agree with you that more money most likely took priority over keeping the property in the family.Did you at least get a chance to match the offer?

You want to be where they are.Just as in any business, there are trade secrets.

So you have a 5 minute quick peek at a 2/1 and have to make a decision on a six-plex without seeing anything else.Now inspection is possible but not guaranteed AFTER an offer has been accepted, but by that time the information you need to make a more informed decision is no longer as useful as before.Which basically forces you to assume the worse in terms of conditions and deferred maintenance in coming up with the offer.

You must own it for at least a total of 5 years to exclude ANY of the gain.Property Converted from Investment to Primary ResidenceTaxpayers used to be able to trade into a rental, rent the home for a while, move into it and then exclude all or some of the gain under Section 121.

Even the best deals don't trade that high.

I had to go to a specialty supply store where the trades go to get the part.

I've made the decision to get a college degree first.