We have had the same tenants since we leased it in 2022 and fortunately they have been great- minimal maintenance requests, very easy to communicate with, and pay on time.We have a 30 year fixed mortgage on the property at 2.875%, the property cash flows about $1,200/month, and there is roughly $200,000 in equity in the property.

This project highlighted our ability to enhance property value through strategic, minimal renovations and effective project management, resulting in a successful and profitable sale.

Your area is the tough part, but if he has the experience and you have minimal risk, it' great to just ride along and learn.

I need help understanding my options to ensure I minimize or avoid capital gains and the different ways I can use that property to support getting a primary residence for myself.

This project highlighted our ability to enhance property value through strategic, minimal renovations and effective project management, resulting in a successful and profitable sale.

Hi @Rita SamaddarI recommend areas based on three things:Budget: Knowing your cash to close helps me suggest the best areas, especially if you're using a hard money loan.Rehab Level: Whether you prefer low or major rehab impacts the neighborhoods I'll recommend.Market Dynamics: Areas with minimal days on market are ideal, as they predict how quickly your property will sell post-rehab.In conclusion, start with how much you have to work with and the level of rehab you're comfortable with to find the best areas for fix and flip.

I practice situation awareness and keep my stuff locked down to minimize the risk I'll be a victim.

You can obtain this from Home Depot for a minimal cost.

Everyone knows the 3% or 4% balance transfer fee, but compare the fee to the interest you will pay over the same period with a traditional loan.If you have $10k in debt at an 8% interest rate with a traditional loan versus $10k of credit card debt with a 4% fee and keep both for a year (making minimal payments), you will pay less interest with the credit card.

The property was acquired for $200,000, with a minimal renovation budget of $5,000, and a promising resale value of $251,000.