I’m incredibly interested in flipping, in fact I’ve already found a property that would be a great flip but I’m not ready to pull the trigger just quite yet.

Check with a CPA of course, but I don’t believe an LLC conversion would trigger a tax issue. 

They may suggest that the environment is ripe for a recession but a recession needs a trigger to start it, so until that happens, there won't be a recession.

This is the fastest way that I found comfort in pulling trigger quickly.

This doesn't trigger the same red flags as transfering a property directly into an LLC.

I will do that.I dont plan on amending every time assessment.Im just concerned because the first value that i used initially is way off.But i guess, amending it will just trigger audits, etc.Thanks Bill!

Thus a lender might pay the taxes, but that gets added that to the mortgage (being behind in taxes might also might trigger them to call the loan, since paying the taxes is usually a requirement of the mortgage).  

If its your hometown get connected with investor groups ask a ton of questions before pulling the trigger. 

Saw on another blog references to " some real estate transactions can trigger the need for a 401k to file a tax return and pat taxes".Looking to use my solo401k to invest in real estate but want to avoid making a mistake.

Just be an expert at one thing at a time.I was in your situation for a long time and I never pulled the trigger until I moved to Des Moines-I can only recommend that you work hard to make connections (is there a REIA or Meetup there anymore-I used to go to the QC for them) and learn your market.