Hey everyone,for many reasons, I didn't process income tax for the last 3 years of my LLC.

However, if it lands you with a good mentor from which to learn, it could save you thousands in mistakes you will not make going forward.

The neighborhood isn't the best, so I'm trying to decide if I should 1031 it into a better property in a better neighborhood for my family and I to move to or use my savings to acquire another home to live in.

Although I do plan to sell within the next 3 years (military orders) I want to make sure I didn't make a terrible mistake by lowering my payments now just to save a few hundred dollars but increasing my total loan.

Due diligence will save you most of the headaches you are dealing with most of the time.  

No tax returnsMinimum credit score 650Max Loan to Value 75% on sfr or 2-4 unitOnly up front cost is for appraisal and creditRates in the 7's with a 30 year amortizationAgain, points not to exceed 4You don't have to sell your beautiful flip when it's done;  keep it, manage it, profit from it.  

Some people put a lot of value in appreciation and the tax benefits. 

So, my numbers look like this:$1,580/month income$400 "lease" payment to Owner$80 Lawn/Snow$60 Trash Pickup$90 Water/Sewer$125 Electric$125 Propane for Hot Water$150 Maintenance $250 Property Tax$50 InsuranceShould leave a net cash flow as-is of $250/month.

As a result, the property tax went up by 300%.

I'm leaning towards just saving a bit more so I can get in the the commercial side 5 units plus.