My wife thought I was bad.Since you're not taking advantage of the favorable tax treatment for "flipping" your primary residence you'r paying a bit too much in taxes.

William,This transaction will not qualify for 1031 exchange treatment.

You have to learn not to react to this type of treatment.

The advice rendered is generally that your 1031 exchange has failed and will not qualify for tax deferred treatment; in short, it’s taxable.

If you don't, you can go through the listing agent and since they would receive both sides of the commission, you should get pretty good treatment.

Like a good investor, I am prepared to hold the house for the Congressionally approved 5 years and live in the house the last two years to receive favorable tax treatment should all of the above fail --praying all the while for a decent tenant who could actually take care of a freshly rehabbed house AND change filters AND cut the grass.

In fact, one of the major treatments for a heart attack is to give blood thinners -- something you can't give to someone who is at risk for massive bleeding.

The first issue that jumped out at me is that you have to have the intent to hold for investment in order to qualify for 1031 exchange treatment.

There are some really great looking concrete treatments now-a-days as well.

The seller did a termite treatment and we didn't see any visible signs of damage when we initially looked at the house and everyone said termites are very common.