House flipping is at an all-time high, it’s as if it’s 2006 all over again. This is why I decided to get my family involved. As a stay-at-home mother, I wanted to find a fun way to create additional income where my family can learn and participate. I find it important to teach my children the basic skills of home building and renovation. Even if they only use those skills within their own homes, I believe it will pay off over their lifetime. So, I decided to get into house flipping. Here’s what I do. Protect Your Investment The whole point of flipping is to make money. You can make some hefty capital gains on the right property, with the right features, sold at the right time. Yet, you want to help decrease your capital gains taxes. According to Anderson Advisors, there are a number of ways to do so from capital gains deferment to charitable remainder trusts. Still, with all of the sweat equity we put into flipping homes, we want to make sure we keep as much of our profits as we can. We need it to support our family and for investments in other properties to flip.…