Also, since you rely on this income, you likely aren't prepared to weather VERY negative situations such that they could have a significant personal impact on your own personal financial situation. 3.

Could you hold a 2, 3 or 4-plex in an LLC, live in one and still sell the entire building as a personal property sale after 24 months (no cap gains tax)?

Condotels are also harder to finance, and therefore will be harder to sell to the next person when you want to do that.  

Personally, I get great cashflow in my NC markets that I invest in, and have gotten to enjoy a lot of the appreciation there as well.  

Quote from @James Cavanagh: looking to connect with the community contractors across United States that deal with fixing flips and realtors to areas, Texas and OhioHi James, I personally love Columbus Ohio and as someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here.

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If you do it correctly, there are also ways to pull-forward depreciation expenses.Whether or not all these expenses will be useful to you is based on your personal tax situation which is why you want to have a good CPA.

As for your down payment, I can’t personally speak to a small business loan…you would just want to ensure you include those payments in your analysis and prepare to be repaying the small business loan and other holding costs during the flip. 

Personally, if I had the chance to do it again I would put down more money to knock off private mortgage insurance and increase my cash flow.

Hello, BiggerPockets! I just wanted to formally introduce myself. My name is Stephen Seals. While I have lurked around BiggerPockets for several years, I plan to get involved in the community here and hopefully giv...