Hi everyone, I have quick question, bought a propoerty on 03/2018, ever since then I have a lot repairs and is not cash flowing, will there be any short term tax involved if i want to sale now on 08/2018Thanks

I am new to investing and am trying to be involved in any real estate dealings I can, to learn and network.

I second the 'no' from Andy. 1031 only applies to real property

@Javier Pinedo, couple things to consider:Investing inside of an IRA will shelter income/gains from taxes, however that only applies to passive income.

We haven't had much experience with the taxes involved with rental properties, but are trying to optimize our potential deductions.

This was in existence prior to the HELOC rules- and should have been applied prior as well. 

Forgot to mention, this involves property in nj.

Well, if you bought a car the day after closing it would appear you Applied for the loan at least before closing of the loan which would violate documents you sign at closing, with the lender, saying you are not applying for additional debt. 

I then choose from those that applied and let the rest know that I have chosen one 

I have no involvement in the deal at all, or transaction, contract, not a consultant.I set-up a quick LLC for them to pay me under, and opened a bank account for it.