There are some related complications such as deducting expenses related to this flip and the issue of the new 20% deduction - so it's a good idea to discuss it in more detail with your accountant.And congrats on making enough profit on your first flip that you asked your question.

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.The site has quite a few tools that can be helpful for new members.

Can someone really delve into cap rates, and NOI and how they’re related?

I have listened to BiggerPockets podcast for several months and have read many real estate related books.

If you were concerned about anonymity, an LLC is not your best strategy but your kind of late to the ball game as it relates to privacy. 

The property is very close to the downtown mid town area of Kansas City so I knew that it will rent relatively quickly at the right price.

The property is very close to the downtown mid town area of Kansas City so I knew that it will rent relatively quickly at the right price.

@Matthew McMahon “a smart investment” is a very relative term.

This occurs when the HOA has inadequate reserves, the HOA fee is too high in relation to the income of the owners, or too high a percentage of owners are not occupying their units.I would definitely insist that the note being held by the seller be assumable, if the above is correct it may be your only way to sell.Additionally you will need to see if the seller owns the property free and clear, or is he wrapping an existing mortgage note within his new seller financed note?

On a related note, this is Section 8 - could a person lose their section 8 through harboring or associated with a felon?