It's essential to consult with a tax advisor to understand the specific tax implications and explore strategies to minimize taxes, such as timing the sale or offsetting gains with losses.Real Estate Investing: Flipping and short-term vacation rentals can be lucrative real estate investment strategies, but they also come with their own set of risks and considerations.

Speak with seasoned investors or industry experts in your community and let them know you're interested in picking their brains for advice.It's critical to create a well-defined plan and strategy that fits your objectives, financial situation, and risk tolerance.

just sold his trailer and his lot for 95k on the market "investor is a potential buyer and somewhat a new mentor but said we should try to get this deal and flip it ourselves!

You need to start by determining what your annual gross income potential is. 

Learn by zoning the attributes- setbacks, special use or Conditional use potential, learn the processes, 5. 

Which can cause higher risk of the deal falling through if any of those parties fail to perform.

Lots more to this, but this is a potential structure.

In most cases I was told that they had high risk carriers who would write a policy, but they had limited protection and higher premiums.  

It really doesn't bother landlords...The main risk for you is if you pay out a commission, but the tenant defaults before you recapture your commission amounts.

Their house went under contract, but has no closed yet, so they are at risk of losing earnest money if they can't close their home or come up with funds to close the new property...or they can try to renegotiate it all with the seller.Here is an example of the form we use.