Avoiding capital gains through buying rentals?
I buy and flip houses as well as by rentals throughout the year. Currently, I am set up under two separate LLCs for protecting my rentals in case I get sued over a flip. However, I have been thinking… If I flip houses and make, say $80,000, and I also buy new rentals for $80,000 would my capital gains be wiped out because of the expense of the new rentals?