I’m guessing that I could lose Superhost for a quarter- any other potential consequences?

Since its in his name, if you deed it to you its going to be an arms length transaction and he may have tax consequences etc (as may you down the road).

When you flip a property, it’s often considered a trade or business rather than a passive investment.

It is very important as there are some large tax consequences.

During the peak trade here I expect most of the deals were off market and often had 30-40 groups touring the property with another 30-40 interested but not touring. 

@Tom Zachman welcome to the forums, sounds like you will have a bunch of great value to add here to some other like minded trades investors. 

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

But knowing your local market and having boots on the ground is a big advantage, especially when you’re just starting out.A lot of people mitigate the risk by focusing on better neighborhoods where tenant issues tend to be fewer, and some just factor extra reserves into their numbers to cover longer vacancies or legal costs.There’s definitely a trade off between control and convenience in your backyard versus friendlier laws out of state.

--Weekly Trade Watch:Forthcoming trade deals with Indonesia and Vietnam were just announced.

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