Currently, I'm diving into wholesaling as a way to generate revenue and build up the capital needed to take on my first fix-and-flip project.

@Ruben VanDusenI am here to network, answer questions and also learn.

Happy to help.

I have the opportunity for a cash offer where the property has great up side once it is renovated.We can get in to the property no problem since we have the cash, the issue is how to finance the repairs and renovations since we just got started on the business and no longer have a w2 or 2 years income under the LLC? 

Are you hiring a GC or planning to GC on your own? 

If you're audited for some other reason, the issue of allocation to land might potentially come up during an audit, but it is still rather unlikely. 

I have a friend who lives in Detroit and we will be partnering up on our first deal so that we have boots on the ground in the area.

Drop me a PM and I will send you to who we use.  

@Catalyn PerezWelcome to the site.Good luck to you & I'll see you around the forums.

Are there any tax implications since it’s currently in an LLC and will be transferred to our personal name at close?