What I want to do is to learn as much as possible the market, the house hacks everything so I take my decisions wisely!

Account ClosedYou seem to be in the trade or business of flipping houses. 

Then you will be able to make a decision about whether you can do that and also the cost difference of your time and material vs. theirs. 

Basically, I’m concerned that I’m making a bad decision and it’s going to be hard to rent out a townhouse in the price range of 2,800-3K or worst case scenario trying to sell in a couple years since buyer at 500k+ price points are typically more selective/picky.Anyone else own higher priced rentals in Biltmore area or Old town Scottsdale?

@Linda FordThe decision to make a C or an S election is a calculus that you should definitely engage a tax CPA/EA for.There are qualitative and long-term quantitative factors as well. 

We can't control everything, so make your investment decisions based on known factors.

Kris, “Giving up” isn’t the right thing to do, however making a sound investment decision is.Were your children or anyone to ask me some years later, what would you like said of your handling of the matter?

I'm an IT Engineer by trade and look to leverage technology to its peak to accomplish my goals.

Hey @Taylor Smith,There are a lot of factors that play into the decision, so I would always start discussing what your current portfolio looks like, your future goals, what states you operate from generally along with a multitude of other questions.

The car is probably worth 13-14000.The other is 30,000, yes we were young and bought a brand new car and fully understand this was a bad decision.