I believe there are less than 1,000 people in this country who earn more than $100K in profit wholesaling over the last two years, and even that's hard to accurately pinpoint, because most wholesalers, excluding the folks who sell expensive courses, tend to have larger holistic real estate businesses, that include flipping, hold, private lending, turnkey rental sales, construction, and other related businesses. 

If you live in a house for 2 of the previous 5 years its qualifies as a primary residence and $250-$500k of profit are excluded from tax if you sell.

We can exclude $500k of gains if we are married.

So, that if the municipality ever tries that you just file the pocket deed to excluding it from action by the city because the "transfer" happened before the city took action even though it was recorded later.

I asked around the Title office and seems like the public record sale price is Excluded of incentives. 

This post is an advertisement for them (excluding the management part).

Seems to exclude your situation.Also, be careful, if you are considering having your Dad transfer the property to you now, since that will affect the tax base value later, if you liquidate it and have to pay on the gain.

If its over two years then Capital Gains taxes are excluded up to $250,000 for single folks and $500,000 for married folks. 

All of this said, my partner has seen a ~41% internal rate of return on her investment, excluding tax benefits, in just the 6 months we have owned this property.

I am looking to invest out of state (excluding neighboring states) so wanted to know what challenges to look forward to.