Taxes on a flip

[John Choe]

So I'm interested in doing a flip and would like to see if someone can easily explain something.  If I purchase a house for $100k and put in $25k and have $5k holding costs then sell it for $200k in a short timeframe, what options do I have to avoid paying a hefty tax bill at the end.  Put it in a bubble on a one time trial flip.  Not into a 1031 or buy and hold.  A simple flip.  Am I going to get a big fat tax bill for the $70k profit?