No flips yet, but do intend to as I have a background in construction prior to becoming licensed.

Any expense prior to that starting date is generally going to be a start up expense (there are exceptions, but those exceptions aren't allowed to be deducted/or have different rules). 

For the primary you only have to have lived in it for 2 out of the 5 years prior to selling it.Takeaways - You won't get to do both the primary and investment without first converting to primary and selling while you have lived in it for 2 out of the 5years prior to selling. 

Yes, but you need to delist the home prior to submitting it. 

It's not just about the one loan that funds, it's also about the 3-8 others I had to find, scrub, and decline prior to funding the one decent deal. 

You can’t just upgrade and jack up rents anymore thanks to the 2019 Housing Stability and Tenant Protection Act (HSTPA).Even things like buying a building with “free market” units can be deceptive—some units can quietly fall under stabilization if the prior landlord messed up.

On top of that, there’s always the risk of an applicant having a friend or family member pose as a prior landlord—something we see more often than you’d think.Another important thing to remember: rental verifications can be very subjective ("good tenant" to one manager might not mean the same thing to another).

Happy to chat if you want to compare notes!

Hi Trevor, I would recommend comparing both terms and seeing which one will benefit you in the long run.

Without speaking to prior performance: I am wondering what this new venture actually plans to do.