If you bought a property with the intention of renting it, then got an offer you couldn't refuse and sold it within a year it would be taxed as short term capital gains. 

Yes, I was thinking of this too as tonight my husband and I agreed that the property we‘ve been trying to get a renovatIon loan isn’t going to work out, and after having her be our long distance realtor (and setting up appraisal inspection and contractor bid appts with the seller’s agent and their tenants) I feel she’s lost interest working with ALL investors despIte the fact that Ive been giving her referrals.

I manage long distance, have contractors on speed dial, and several college friends I can call to run over to the house if needed for 50 bucks a trip. 

@Wes Short Thank u and i will follow u advice

In short, if there's 6 or more adults living at a single family home, you're supposed to get a permit. 

.- Purchase a 2-4 unit with an fha loan- After one year, I can buy a 1 unit with a HomeReady loan w/ 3% downB)- Don’t refinance fha - Buy a 1 unit with HomeReady loanThe opportunity cost here is not refinance get fha and missing out on an additional stream of income from getting another multi.I just started with my research and I know there is more out there.What I highly suggest those starting out to do as a short term plan is- buy a 2-4 unit with the HomePossible loan w/ 5% down- after 1 year, buy another 2-4 unit with an fha loan with 3.5% down- after 1 year, buy a 1 unit with 3% downI heard this plan recently on the JF1401 podcast.

Down the road when I'm more comfortable I can see myself going out of state, but I don't think I want to for my first experience.If I'm totally honest, I'm probably too risk-averse to make my first property(ies) outside of comfortable driving distance (max 3-4 hours), leading me to look in places like the high desert (Joshua Tree, Yucca Valley, etc) or mountain destinations like Lake Arrowhead/Big Bear. 

Since that time I have participated in countless training, Masterclass, Expert, and 1 on 1 sessions with short term rental experts as well as the LuxHomePro team.

I’m going to keep this short and sweet, I’d be more than happy to talk with anyone on this topic, my cell number is in my BP profile. 

I’m going to keep this short and sweet, I’d be more than happy to talk with anyone on this topic, my cell number is in my BP profile.I’m currently a Captain in the US Army, and I have a knack and a love for commercial real estate analysis.