If the property cash flows now, it should for the duration.

You have two options:Close on your offer to purchase and rent it  outWalk away and forfeit the EMD.If the original seller suspects that you never had the intent of closing or were incapable of closing (say inability to finance), you might get hit with a fraud suit as the seller was "relying upon your offer" and had taken action with that in mind.if the property has been on the market for some duration, how can you find a buyer faster than the owner or the sellers agent?

The problem with this is two-fold: irrational actors are of limited supply and might only remain irrational for a limited duration.

As Rob pointed out, FHA is looking like they are going to get back into the condo finance business but until that happens you are going to find a flat market for these investments.If you can get one that has decent financials and looks like it's only problem is vacancies causing the HOA fees to rise AND you have the cash to cover any expenses on it for the duration then in the long run these are going to be great investments.

  ;)Capital gains refer to assets held for a sufficient duration to earn favorable tax treatment.    

I use Sherwin Williams 400 or 200 for interiors and and Super Paint or Duration for exteriors.

That entity i would use for the deal or duration of that partnership, so as that partnership is that entity will close also. 

We are looking at them being invested in the deal versus me just borrowing the money from them at 9% for 12 months (or duration of the project.)I'll be partnering with an experienced spec home developer and an experienced spec home builder, who also does his own spec deals.If the numbers above hold true, the gross profit would be $150,000.  

10% flat rate on $100,000 is quite different than 10% annualized when project durations are 4-6 months.I understand if the numbers work in either case then it's a good deal.Im just curious as to what terms are being used more - flat vs annualized.Thanks

If your project duration is short the hassle and transaction fee tradeoff may be worth it though.