To flip or to rent in Branson?
Hi, I have a property under renovation in Branson that we just purchased in January. I intended to rent the property, however; we are about to sell a home in Virginia, which will be a capital loss, and it has me thinking that this would be the year to pit another sale against that for considerations of capital gains tax. And while I wasn't thinking of a flip intitally when I bought it, the changing situation with the other house has me considering it. It's not like I'll make a lot of money on a flip, it would really be just to get into a different, short term rental property (which zoning restrictions do not allow for at this place, which I did not find out about until we almost closed. Sadly, I relied too much on the 'expertise' of my agent who had no idea). Luckily, I loved the property enough to go, 'oh well, I guess we'll get into a long term rental...'
Anyway, I really do love this property and feel like it's a keeper. But - we also wanted a vacation rental way more than we wanted a long term rental property, and don't really have a down payment for another property.
Anyway, I'd like to hear things I may not be considering, and I'd love to hear some advice for how to approach this decison!