What to do with profit - options welcomed.

[Gabriel Miritello]

Hello,

BLUF: I would like your opinion of what to do with $30-50k of profit from a flip.

Long story Short, bought a home in Dec '21 for $125k(my cash), put $75k(my cash) into reno and am looking to sell between $250-260k in the next 2 weeks.

After fees I'm looking to make a profit of $30-50k, if not more. I'm long distance, love my area I'm working in, have a good team and this in my second reno(first one was a rental that I'll be holding onto)

I don't want to BRRRR this one or keep, #s don't make sense in this area as they do in others.

So what are my options to best utilize the profits and avoid taxes?

1. 1031 exchange for another flip? (Though I have heard flips are iffy with the 1031, any help is appreciated)

2. Buy another reno and put that money into the project (flip or rental) in order to get some write off from it.

3. Just suck it up and put 24% aside to pay the tax man.

Notes:

My W2 is around 85k taxable.

My real-estate LLC is around $5k taxable plus this flip($30-50k)

I assume I don't need to worry about the $200 of my cash I put in for taxes and 1031 exchange issues. All expenses documented and kept.

Thanks for the help.

Gabe