If you are in the 28% bracket, you will be looking at some or all of the income pushed into the 33% Plus the 10% penalty which is 72,240 just to pay the taxes.

so i was reading this http://www.biggerpockets.com/forums/67/topics/21771-gut-rehab-costs and got the definition of a gut rehab "A major restoration project on an old house or other building, ripping out plaster walls back to the studs and rafters and replacing them along with some or all of the trim," on that link it said something like a gut job is about $40 a square ft.

I’d consider speaking with some or all of these.

I am not saying all good PM companies are local or all out of area PM companies are bad.

I have done the numbers and I can complete the work on other 16 units at 75K per unit or all in for just under 2M.

Depending on location, what the foam is made out of (polyurethane is most common, I believe), other characteristics of the foam (R-value, whether it's water soluble, etc) and how difficult it is to install (are the cavities open or will the foam need to be injected through walls, etc) will determine the cost, but you're probably looking in the $2-5 per square foot (of cavity space) range.

In working with insurance companies I've found that they rarely cover mold issues as they consider it long term or chronic in nature and their policies generally only allow flames of acute or emergency situations i.e. plumbing breaK or leak, wind, fire, tornado, earthquake, hurricane, etc.You may think it's a good deal now but once you start digging into it it's like a dentist digging into a cavity.

(Flipped homes before, never a duplex.)Here is the current plan, PLEASE correct or comment any or all of our assumptions.Purchase and renovate in 3 months.Rent both sides for $800 (feel confident about this number possibly even $850)Hold for 6 months to show good rental history and that it will rent for this amount.Make $9,600 in rent (minus expenses of course - used BP rental calc)Sell to Investor wanting turn key rental for $160,000 using 1% ruleOR Sell to Investor for 155,000 to beat 1% rule by a little to sell faster????

disgusting - thousands of dead roaches behind every single piece of the house - light plates, anything that was attached to the wall, wall cavities, etc.

I think it is best to be all in or all out.