Newbie - Residence into Business
I have just flipped the property I lived in for 14 months also my first property as a home buyer. I would like to continue this business as this flip has been very favorable to my income.
This house is currently on the market. I would like to leave a nice down payment on the next house and get the rest on a construction loan from a lender. I never owned a business should I state that this property is my business and will this help me get a construction loan easier on the home I wish to purchase in the next few months? Also for tax purposes is this a good idea?