It is worth considering areas like McKinley Park (right next to Bridgeport and also becoming a Western extension of Chinatown), West Pilsen (still seedy enough to yield an occasional good deal), or Bronzeville (again, pockets of dereliction open up the opportunity to help clean up your own little corner of the neighborhood). 

By replacing UBIT with corporate tax, the rate drop is significant enough that the net after-tax ROI to the IRA may still be favorable relative to other passive opportunities the IRA may have access to.This is not a meaningful strategy for the typical $50-$100K IRA, but for someone with the capital to really do a volume of flip transactions, it can be worth exploring.

I ran the numbers and they showed great cashflow and investment opportunity.

However, the full probates are going to be higher in value so perhaps more opportunity for you to make money.

As they say, I am a long time listener/reader but first-time poster. First some background - I have lived in Orange County/Los Angeles my whole life (school and all) and would love to get involved in real estate inves...

At BP, Justin, you not only learn how to get deals done correctly, but also have an opportunity to network with other real estate investors and learn from the informative forums posted on BP everyday!

Want to know whether flipping opportunities are there or not ?

They also take time to learn the area in more than just a superficial manner.No doubt that there are "better" opportunities in areas where the numbers make more sense, but a weekend Wells Fargo "Investor Seminar" held in the Bay Area doesn't give you all the tools you need to successfully operate in a place with which you are totally unfamiliar (personal anecdote).

We have a great meetup in Atlantic City if you're interested in and there's definitely investment opportunities in south jersey.

This would actually be a great opportunity to sell the duplex...and buy a large apartment building since you have so much equity and they tend to produce better income .