I could, but will not, be graphic.When I was in pre-med (!)

It's ordinary income, subject to self employment taxes, both sides of SS/Med.  

Finishes to match the neighborhood, so I would say med/high.  

A is original seller who wants 12kB is my buddy I have an options contract with for 16.5kC is me D is this realtor guy with the buyer at 22k net to Seller(s)E is the end cash buyer who has agreed to compensate the realtor and pay 22kI have the A>B contract The B>C options contractAnd a The C>E contract sent to me by the seller. 

I dont have enough cash to buy out right  in my area med home price about $300,000.  

It's not capital gains.....it's ordinary income plus self employment SS/MED taxes(15.3%).

If so, your taxes will be much more than this....the profit is taxed as ordinary income tax, plus 15.3% self employment ss/med taxes.

Btw the med center is the med center. 20 minutes from the med center can be very far depending on traffic. 

v=QeiuirTqxcg&feature=youtu.beHere are the details:- List Price: $13,900 - 1600 sq. ft. 4 bed/2 bath- (C-) area, but gentrifying- Comps with med. builder grade finishes ~ $70K-$100K- Rent Comps ~ $900/mo- The house has multiple code violations (see picture below):- At the very least needs(new): roof, electrical box, water heater, a/c unit, flooring, windows, doors, kitchen gut, bathroom gut, couple walls removed.- As far as I can tell the structure itself is o.k.So...This would almost be a gut rehab in my eyes.

Flipping profits are ordinary income, taxed at whatever your personal rate is that year (not a straight 15%) plus 15.3 % ss/med self employment tax (both sides) for federal taxes....your state tax will vary.