The net profit is ordinary income. 

So would/could be 90-120K of income to pay taxes on and probably at ordinary income rate.

Would you pay 5-10k over the estimate on Zillow under ordinary circumstances?

I'd say no, a handgun would not be ordinary and necessary to your real estate business (assuming you have a real estate business). 

So the question is, how will you make the argument that your firearm is an ordinary and necessary expense for your business? 

They are ordinary on the outside, would the arbitrage company require me to install high end landscaping? 

This is especially true for anything to requires variances, rezoning, or something out of the ordinary for the city.Projects often do go over budget.  

The profits will be taxed as ordinary income, subject to your ordinary tax rates.

Ordinary vs Long Term sounds snafu'd - - get a CPA, not just some accountant nor bookkeeper. 

Example: - Example: $50K gain after transaction expenses are paid ($25K Recapture and $25K capital gain) - Disposed Property: Net sold value of $300K (after transaction expenses)- Originally Purchased for $275K- Depreciated book value of $250K - Acquired Property: Purchase price of $200K - What would the estimated tax liability be on this transaction assuming an ordinary income tax rate of 25% and capital gains tax rate of 15% if using a 1031 Exchange?