I think that a 10K hit in Long term gains tax is worth it to ensure I move this property at the right time. 

I would advise ensuring that he/she has adequate cash reserves going into the investment in preparation for any rehab or unexpected expenses.

@Sandy UhlmannYes, the IRA can purchase a home, have it repaired, and resell the home at a profit.Do check with your IRA provider (and tax advisor) next week and ensure that you get a good explanation of the rules and exposure to UBTI taxation that such an activity can create.You or a disqualified party to the IRA may not do any work on the property.Flipping is a dealer activity viewed as a trade or business.  

*Disclaimer: There are no guarantees of return on investment as there are some risks involved with all investments.Exit Strategies/ How To Repay Private Investors Principal:Refinance or sell the property and cash out.Another option is to exchange the first Private Investors mortgage position with a second Private Investor.In the unlikely scenario one of these options are not available, Private Investors will receive an additional 4% rate of return until one of the options listed above is available.Examples and Financials Examples of a 2, 8, and 50 unit property are located towards the end of this Business Plan.The (5) five year financial information is found at the end of this Business Plan.Business Legal Structure Legal StructureBetter Way Properties, LLC is a Limited Liability Company established in Wisconsin.Additional LLC’s will be created as necessary ensuring there are no more than (2) two properties per LLC to help protect assets and limit risk.Ownership/ManagementPrincipal MembersJohann Kleisch – 50% Member & ManagerCarolyn Kleisch – 50% Member & Secretary The Kleisch’s have been together over seventeen years.They live in Evansville Wisconsin with four of their five children and look forward to continuing their journey of Real Estate Investing together.Mr.

Cody, just wanted to update you that we started a new meet up on meetup.com if you are interested - the one posted about in this thread ended and we started a new one to ensure we keep the ability to network and connect with others interested in real estate - here is the link if you would like to join. it is Jan 27th at 7pm at the Point Grill in Central Point : https://www.meetup.com/Rogue-Valley-Real-Estate-Investors-Network/

I think they will give the HML space some real competition.Once they can take non accreds it will really blow up as the bigger they get the more competitive they can be on points and rates. .. although the bigger players are also landing Fund money as well.Were they really shine is take my state Oregon.. we are not allowed to fractionalize Deeds of trust... so the CF through their portals and back end set up.. can fractionalize interest in a single deal.. fund in one name so your no breaking the law's ... and be paying out multiple investors who have small overship interests in the deals..

The other concern of mine is that there was a fire in the home (which explains why the kitchen is practically new) and I am having the inspector look into the attic space to ensure there is no hidden fire damage. 

The other concern of mine is that there was a fire in the home (which explains why the kitchen is practically new) and I am having the inspector look into the attic space to ensure there is no hidden fire damage.

I currently am searching for a first rental property in the Davis County area and joining BiggerPockets to ensure I have studied enough to make my first property a success.  

Then you will probably want to either conceal/encapsulate them (i.e. box them in) to ensure they are not disturbed or have all of the wrap on the exposed pipe abated.