I mainlyplan to flip and hold rentals, but I’ll also be wholesaling whatever deals don’t workfor me or I can’t close on.

These are all “pass through” LLC as they are all owned by the holding LLC.

Investment Info:Single-family residence buy & hold investment.

Would love some additional information or message you if that's ok? 

@Samson Hall don't let anyone hold you back. 

Our goal is to focus on buy and hold properties for now, and we are hoping to purchase our first property in the next few months.

Here is the detailed information:A condominium was purchased by Person A on 11/01/1986 for $52,700.On 11/7/2015, a real property was quit claim deeded by Person A to Person B as a joint tenant with rights of survivorship and Person C as a joint tenant with rights of survivorship.On 11/17/2020 person A died.On 01/17/2023 person B died.Person C (myself) will be selling the real property.I need to determine what capital gains I owe on interests I held and then the additional stepped up interests I acquired through survivorship.My analysis is as follows:The timeline for ownership interests is:11/01/1986 Person A 100%11/7/2015 Person A 33.33%, Person B 33.33%, Person C 33.33%11/17/2020 Person B 50% & Person C 50%01/17/2023 Person C 100% The tax implications are:1.

@Marci Stein I’m now starting to offer washers and dryers for an additional fee with the rent each month.

The structure has to either already exist (we converted the garage) or you can do an addition to the property and build it out that way.One of my clients took an illegal garage conversion that was expanded into two bedrooms and used the FHA 203(k) loan to get it permitted.

Your "gross profit" for flips is going to be what the property sold for minus all Cost of Goods Sold for the property (purchase, closing costs, renovations, holding costs, selling costs, etc).