Hi Twana,If you’re looking to fix and flip you might want to think about partnering with someone that can provide the cash if you have the skill set to make the flip happen.

P.S Bill Gates couldn’t get the money to purchase DOS from Kildall so he reached out to IBM and asked them if they would make the purchase at $25,000 “peanuts” and set up a licensing agreement which they said no and than turned to Microsoft for $50K making him a part of the company and founder of now known MDOS than Q DOS.

We are set to close on this house/lot in 28 days (July 26th) so need to work on the demo plans, permitting, architecture, etc but need to hire the right team to run this project on time / on budget.  

One other adjustment I would like to make that is currently on the lease is the lease says "owner pays water for both units" with me being a single and them being a family I feel it's fair for them to pay for their own water bill because they're naturally going to use a lot more water than me.

So I was wondering if there is some issue if I make a loan to a non-disqualified party that does get a share of the profit, not just a set interest rate.

I have moved to using 15 year adjustable rate loans with a 75-80% LTV.

My next question would be if I keep the LLC as is and just do a DBA -  should I keep a separate set of books for the DBA?

Regardless, the 1031 allows you to defer that tax as well, rolling the adjusted basis of this property into the basis of your replacement property. 

It does everything I need and a bunch of things I didn't know that I needed (Property Management invoicing, easy of setting up bookings direct for friends and family, etc.).Yes, there is a ton of noise about breaking away from OTAs.

The truth will set you free.