In general, I reckon flipping should be left to professional flippers.

After all that is the basic reason for me creating this post; to hear from professionals that could help me understand and survey my options.

I just started reaching out to leads this month and other investors/real estate professionals and it's been a great experience so far.I think it's important to establish a system that you can track, budget, and improve.

In my view, the value is in the professional or the firm being there if the IRS performs a compliance check.

Because people will pay $5.25.I understand that, but assuming a cup of coffee is not gonna drain your pocket and a million dollars will, im not sure that is a likely scenario for 99.9% of investors out there.

I would like to share the information here, and hopefully someone can learn something new or points to a right direction to answer your specific needs.Below is what I learned today: (**Disclaimer** Please use this as a guide only since I am not a professional CPA or expert in NYC tax codes.

It is typically much easier for you to buy "turnkey", however in my experince you will buy better quality from an owner who occupied the property than a hous that has been professionally flipped and the remodelling has been done skin deep.Cash and quick closing is not always an advantage.

If you still can't find anything then turn to sites such as HomeAdvisor and WhtsWht to connect you with a professional and get your projects done. 

The reasons being: 1) rental is professionally cleaned after each use of usually 2-5 days; 2) both Host and Guest are given Yelp-type ratings that everyone sees. 

I don't know anyone that is working down there professionally.