There are some cases in our industry where the improvement portion of a purchase does not even count towards a taxpayer's 2 tax reporting year holding period.

Short term capital gains is your ordinary income tax rate and long-term capital gains where you hold the property a year or longer is considered long-term capital gains is in as taxed a lower rate.  

Our plan is to hold long term (10+ years) and likely pay it off in 5-10 years to act as supplemental retirement income which we plan to get to with a couple more properties paid-off in Tulsa eventually.Would you pull the trigger on these two properties based on our goals?

Investment Info:Small multi-family (2-4 units) buy & hold investment.

You want locking systems that keep water out of the cracks and a core that holds up well to water.

It is that rationale that has guided my thoughts on what I think is and will continue to happen with multifamily.Specifically, I think for most distressed properties, the banks are actually going to hold the property.

The overbidding saved a ton of investors over the last few years, but now those same guys are having difficulty or have been caught holding onto property from the big wholesalers. 

My bf has been asking me to be patient and hold off on buying another place for a little while and just live with him until I find what I want, which is fine but here is my quandry…I can sell my condo and use that money to pick up another house, sure.

I only develop/flip in LA and hold rentals out of state.  

If you want to keep yourself 100% you will want to create a Holding company with an attorney.