Hi All, any input on renovating a house and possible tax exemptions under an LLC?

Looking for a creative way to either turn my current property into a rental or a flip or any other way to make a profit. 

Having a long-term rental while living abroad is do-able.Flipping houses while abroad, in my opinion, more difficult, especially if its your first go around with real estate.I would recommend taking a flight and staying in the area for a week and inspect the neighborhoods and make connections.You can reach out to @Elenis Camargo who has a PM company in Jacksonville.Best of luck though.

The only other option I see is a short sale, if you don't need to purchase for a few years and don't mind a temporary credit hit to save the $60k.  

My wife and I have overhauled our personal budget to reflect the 'pay yourself first' approach (allocate in order: income comes in -> invest -> donate -> fixed expenses -> variable expenses -> fun $$).We are looking to see what experienced people generally recommend for a holding tank for that 'invest' allocation while we target our first real estate deal.What financial vehicles have you guys used that works well for this?

You can't really be a true car salesman type In Real Estate.

A good lender will give you the time to review terms and ask questions.

You can't add a lake but you can build out a great kitchen with everything needed to cook anything.Every STR owner will have a different answer.

It's always a scam.

Not that I'm a proponent of borrowing just for a tax break, but the interest is a deductible expense.