I'm looking to invest in the Orlando Real Estate.

They should provide you with comps for free and can also help you in many other ways.

I now want to diversify, I have around $1m in S&P 500, and want to use the other $1.5 for real estate investing.My end goal is to build a Real Estate Empire and I feel like I am in a very good situation to do so,I love working and I am not looking for "passive income".What would you pros do in my situation?

Assembly Bill 1771, also known as the California Housing Speculation Act, aims to change real estate tax policy to discourage investors from quickly reselling properties like single-family homes.Under the proposed bill, an additional 25% tax would be imposed on the gain from the sale of a qualified asset (including homes) within three years of the previous sale.The tax reduction is dependent on the number of years passed since the initial purchase of the qualified asset, ranging from a 20% reduction for sales occurring between 3.01 to 4 years to a 100% reduction for sales occurring more than seven years after the initial purchase.The revenues generated by this tax increase would be deposited into the Speculation Recapture Community Reinvestment Fund, which aims to support affordable housing, local governments, schools, and infrastructure projects.The bill is introduced by Assembly Member Ward, and the proposed tax changes would take effect from January 1, 2023.Assembly Member Ward argues that short-term investors in the market, including fix and flip investors, contribute to rising housing prices, limiting opportunities for Californians to purchase homes.While the bill may discourage short-term speculative transactions, it is worth noting that California's tax laws still provide certain advantages for investors, including unlimited tax write-offs and depreciation benefits.The bill is subject to legislative approval, and Assembly Member Ward will speak publicly about the bill at the San Diego County Administration Center on a specified date.Please note that this is a simplified summary of the bill and its potential impact on fix and flip investors.

What’s the most relevant real estate news you have read or heard in the last thirty days?

I had two different guests checked in prior to the hurricane Milton mandatory evacuation.  

But could it work for an investor looking to get a deal going in an otherwise tight market. 

I have had them move out in the middle of the or had to evict them for breaking the lease. 

I have never heard of this but you might want to chat with another CPA who specializes in real estate to see what they have to say.

@Ben Carpenter Have you lived in the property for two out of the previous five years?