The flipping is definitely getting a bit tighter in the "Seattle" neighborhood, but there is still some potential both North and South.  

Hello All,So, I have just come across a property which has great potential for a fix and flip.  

Then if you end up negative you can potentially use this towards the $25,000 write off.I am giving you general advice as I don't know your tax situation.

The potential gross income for this property for this property is $2990/mo if all four units were occupied in accordance to the current rent amounts.

Short of crowdfunding does anyone have any suggestions on how I can approach potential investors about helping me come up with this down payment ?

I knew it had potential and for the last 3 months, we've renovated it from the bottom to the top.

You're not going to cashflow on a water front property and you may have issues with seasonality and/or demand in a very tourist-driven area.If you have an idea of where you'd like to invest and what the numbers might look like, a good way to test the waters is to put an ad on craigslist showing a potential property with the rent you'd expect to get and see what kind of interest it gets.For my rentals in Louisville, over the past 6 years I've had anywhere from 2-3 emails a week to 30+ emails per day depending on the location, rental rate and time of year.

It creates potential for two-layer taxation and creates tax deductibility issues for losses. 

Just did a walk through of a potential investment property, and now I am estimating cost of repairs.I am looking for an honest contractor in the Pinellas County, Palm Harbor area to do another walk through the house with me, give me his estimate of repair costs, and potentially hire that person.

My worry is that is I commingle the banking activities and the 2 rentals I have in my name with the LLC I have potentially negated the benefit of creating the LLC if/when I am sued down the road.I think this must be something others have come across and I would really appreciate suggestions on making this a bit simpler.