It would/could be only 15% capital gains tax and yes you could/would deduct all selling costs including commissions and transfer taxes.

Now, my thoughts (full disclosure: I am not selling you anything): I see it as a red flag that the GP is doing a capital call, but you don't know why.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

I have flipped 30 houses, including having 10 projects going simultaneously, one of which sold for $1.8 million.

He said that typically in flip deals its around 30-40% down but if construction was included it would be about 30%. 

Many local businesses that operate in the downtown area by the state park (including some famous attractions) close for the winter or reduce hours.

@Melody RaultA lot of specialized tax firms, including mine, serve clients nationwide, using technology.

Your clients should focus on properties with significant equity potential and work with experienced contractors to stay within budget and timeline—especially with borrowed funds on the line.Avoiding Bad Deals - Encourage them to work with experienced agents, contractors, or mentors and always run multiple scenarios, including worst-case outcomes, to stress-test their numbers.Reserves - Advise your clients to keep a reserve fund separate from their loan for emergencies, unexpected expenses, or delays.

Exceptions include delays caused by factors outside the Subcontractor’s control (e.g., weather, material delays).5.

Additionally, the estimate for my tax preparation for this year was approximately $1,000 over the cost I paid last year (including the time I paid for them to correct their errors).