You really need to talk to a tax advisor in this situation.

As you know, this part of CA is nothing like what most people associate CA with.

These homes may be dated, but they can be decorated to a high standard.

Always smart to see the bigger picture and future cash flow potential!

This is a very common situation with most investors trying to find a way to scale, and it is really nice that you are looking for solutions proactively.

Most residents that are eligible sign up for this rebate.

That goes up to 60 days if they have been there for more than 12 months and it goes to 90 days if they have been there for more than 24 months.Thank you for your reply.

I took a $40k loss on this. - To make up for that loss I bought a property to flip.

Most work like this: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

Ryan,Most of the info you need to get started is "free" in books.