If the letter comes to your unit then you keep it sealed in your records in case they ever try to claim you made no attempt to send it.

I have never attempted to completely rehab and flip. 

Please don't attempt to commit any kind of fraud with an FHA or USDA loan, it isn't worth it.

But was hoping someone more knowledgeable could confirm what I think is true or not before I attempt to file taxes by tomorrow.The web gives 3 tax bracket examples of 15%, 25% and 28%. 

@Mindy Jensen I'm on my desktop now with no issues; however, whenever I attempt to respond to a message from my phone, I notice that my typed text is deleted as soon as I hit the space button.

I thought about attempting a 1031 exchange with the proceeds from that sale, but didn't.

I am honestly confused as to what point you are attempting to make. 

I'm attempting to get the seller a 50k return in the process.

I attempt to never fall more than this below market because at $200/month below market the tenants cannot move into as nice a place at same cost so they have financial incentive to stay but also tenant turn over is not that costly or laborious and at more than $200/month below market it makes more sense to spend a few hundred to turn the place over and take a chance on a new tenant.- Tenants that are pretty good but not great I attempt to keep the rents at ~$100/month below market.- OK tenants I keep close to market rent.- Tenants I want to get rid of I place rent above market and let the tenants give me the notice. 

Attempting to process that much stupid froze my laptop.