First, it's not gains....it's ordinary income, with self employments taxes (SS/med).  

I just read an ebook on the internet about an individual starting a business while attending college for pre-med school.

If I hadn't taken my pain meds for my back after falling on my tail off my truck, I might add some more, this comes to mind first

I need me!!! :D

@Chris Clothier, I lived in Memphis for a few years in med school so I know the city fairly well.

Flipping profits are taxed as ordinary income, including SS/Med, and not deferred by reinvesting.

So I just held them.At least I think I'm worried, I am now on blood pressure med's.

@Dina Harleth So long as you can justify that these repairs are related to the satisfaction of a potential renter.

Hello JD, thanks for asking, well I started out as a REI in the med to late 90's it was through picking up a few properties that was faces with foreclosure and dealing with the (LM) Loss Mitigation department well it just peek my interest, so i started my research on loss mitigation in the mid 2000's when the market started to crash little did i know the timing was just right..

Someone needs to adjust this guy's meds...just sayin.