I, having no experience flipping houses, was wondering whether this experience would be directly applicable to managing a house rehab.Not knowing the process/complications that arise with house flipping, I was wondering if any of the experienced house flippers out there could elaborate on their experience with managing a rehab/flip.

Tax implications:34922909120012008,801 income assume 1% GRM 12,000 a year Net taxable $3199.Here is where it gets more complicated...If you fixed up the place and follow the tax guidelines, for Bonus depreciation, De minimis, and repairs.  

Then I could live there and do Airbnb but that's complicated.

Wyoming or Nevada LLC gives you anonymity but it would be used to hold your LLC which holds the underlying property.Don't make this complicated on a SFR or your first or second investment property.

It doesn't have to be that complicated.

Too complicated and usually ends with someone being upset.

@Leah Roberts its not to complicated, but it could be prohibitively expensive.You have three options: _Keep doing what you are doing, by including it in rent.

I guess it's a matter of assuming liability as well...just think about your exposure if things go horribly wrong...would it matter if you had an ownership position up front...worst case would be foreclosure or project completion and your partner refuses to pay you...Since you're flipping this should be pretty straightforward...the only complications arise when things go wrong.

It requires cooperation on all sides (especially if the Seller has a lender) and it's definitely a little complicated, which can lead to expense.So my first question is, how much is the gain you are seeking to offset?

@Ashish Acharya, this sounds wonderfully complicated.