Hold it for less than one year and it's short-term so the rate is the same as your ordinary income.

We purchased our home in Atlanta through a relo company, but other than a couple addenda, it didn't seem out of the ordinary.  

Flip income is taxed as ordinary active income anyway so it can't get any worse than that. 

It will be short term capital gains, so its taxed at your ordinary income tax rate.

And/or/and doesn't matter.You pay ordinary income tax and self employment taxes either way-if "holding open" were even possibleThe title co.s don't make your contractsNeither type of contract gets notarized, as it doesn't affect anything

Personally, I would still read through everything and make sure that there are no assumptions way out of the ordinary, even if you've done 10 deals with them.

Dirty laundry is gross and I've cleaned a few apts with dirty toilets, and garbage, and diapers , but this was ODD and way from ordinary.. 

He can do even better by keeping it in the roth IRA so he won't pay taxes on the earnings nor will he when he later withdraws it.He will pay tax at the ordinary rate with no penalty.

When there are multiple offers, you won't get picked if you are asking for something out of the ordinary.

Originally posted by @Brit Foshee: Flipping has started to become more full time.