The people renting the place aren't prepared to be in the "business" of renting their place out so they make decisions that feel comfortable - right or wrong.Recent news stories of houses getting wrecked on Air B&B do not help your cause.

If you are employed, you should also be prepared to provide your paycheck and W2.BUT:We look at the documentation differently than a conventional lender does.

A well  prepared Mindset is a constant theme in real estate books and podcast, obviously brandon turner and david greene are some of the biggest advocates . 

While our team prepares for production to begin, we are finalizing finance options, and updating our itemized pricing as well as our catalogs and options to show case standard build finishes and fixtures as well as optional upgrades.I'd be happy to make a note and add you to our waitlist for follow up once we have updated pricing in place and more information to share on what's included in the builds at those various price ranges and what services will be available.Feel free to reply to my email* directly if you have any additional questions.

If you have already purchased the property it would involve the preparation of a deed to transformer the ownership of the property into the LLC.

Prepare to be interviewed as well. 

While it can be said it is based on intent, the IRS has no way of knowing your intent and so will look at facts and circumstances to build a case on intent.Harrison prepared a great list of facts and situations that the IRS and courts look to.It is quite possible that flipping one house could make someone a dealer.

Also you should be prepared for them to trash you in their circle, making you out to be either crazy or a bad landlord.

So, be prepared to spend some money on the courses..

Unless the investor in a flip is prepared to add substantial value by fixing up a property, don’t participate in a flip.