You will pay less Taxes on the sale due to paying Capital Gains instead of ordinary income tax due to being flipped the same year you bought it.I am not a CPA and will recommend that you seek advise with a professional on that area, but if you flip to rent instead of selling on your first years, you tax bill will literally be almost non existent.Do not let this flip and some appraiser steal your future as an investor, on the next ones, try to invest a lot less on the rehabs and you should be fine!!!!!!!!!!

The self-installed tiling in the bathroom is visibly crooked, and the joint between the wall and floor is not flush.  

(DO Ask for receipts if it's for material deposits.)Share competing bid information and "bid shop".Encourage bidders to get into a bidding war.Try to low-ball contractors.....they will try to cut corners or make it up with change orders a lot of times.And finally, DON'T assume that "All Contractors are Crooks" or that "All Contractors Will Rip You Off".  

One of the biggest reasons a hard money lender won't steal the deal you presented them to is that they don't have the time nor is it part of their investment strategy.

Do I have a attitude, you bet, can't collect from them when they default and 80% will be a problem guaranteed.The vast majority on welfare of any type in Ontario are scammers stealing tax dollars and all believe they deserve every cent they receive.

Back when copper thieves were out stealing wire, plumbing and looting HVAC units they'd typically hit empty units. 

You aren't stealing.  

That's a steal.

I'm talking stealing appliances, destroying everything in sight, the works.

If you guys know the area, this could be a steal.