If you are operating an AirBnB or VRBO type short term rental, then you are expected to file an annual or quarterly tax return and pay the transient rental tax as well as B&O.

In the highest tax bracket, now 39.6%, and add on the 3.8% health care tax, and add on the state income tax, as high as 13% in CA and add on the social security tax, you could be paying what 68% of your profit in taxes on a flip at the high end.

Also, we still have to pay our state income tax as well as 3.8% healthcare tax when we sell.

This mentor/coach group uses some very aggressive tax strategies.When I mentioned this approach to my CPA he dismissed it almost immediately without much consideration at all saying it was too complex and expensive to maintain.Like anybody else I want to pay as little tax as possible but if my CPA does not buy into (or understand) the strategy is it really any good to me?  

Ditto with S Corps, but income can be split between wages (with SE tax) and distributions (without SE tax). A

If you are selling the property to the kid at fair market value, there is no gift or GST tax. As

On paper, you may not end up with taxable income- I'd suggest seeing a professional.This is where a good CPA is worth the cost- they will be able to make sure you're getting every deduction and mitigating tax as well as implementing a good strategy. 

Title Transfer Tax     a. $30K one-time cost 2.

Email or call anytime - two of the people in our international group have law degrees in Tax as well as CPAs - we aren’t as expensive as big 4 but aren’t as cheap as the small firms.

this simply means you are in the business of buying and selling real estate and your income from such is ordinary income and depending on how you have it set up.. your subject to self employment tax as well.. you are no longer a passive investor.. the  threshold I have always heard over the years is 7 or more in a calender year.