If you held the property for at least 12 months, maybe as a rental for some of that time, gains then can be classified long-term.

Take a very simple example: According the Census data, there are 130 million total housing units in the U.S. and 755,000 of those are "extra units" classified as for investment purposes ( http://www.census.gov/prod/2011pubs/h150-09.pdf ).

First of all, your property would be classified as a mixed use property.

They want $15k and it's on 1.75 acres, they classify it as 'lakefront' property for some reason even though it's really on some little dried up pond (or so it really looked like) to me.I got more info + pictures on this property at the bottom of the post.

I don't know that I would classify it as an ideal market only because the quality of the available inventory is not ideal.

I am considering flipping and rehabbing around Baltimore area; but how do you classify the good deal.

I have a website, classifieds, and target certain areas with postcards 7-8 touches a campaign. 

Plus they may know of some of their clients that are sic of being landlords and want to sell. you by pass the layers of marketing profits and buy direct.. that's one way to start your hunt for lower end properties.However I said you can do just about as good as anywhere right there in Vegas..

Sign in the yard, ad in classified, postlets ad layout....nobody's moving or this Spring is dead.

It could be a nice benefit if the current foundation can be saved, as the project could be classified as a "remodel" instead of "new construction", saving you time and permit fees for getting the new house up.