Similar type properties ( 2BED, 1BA, that are updated/renovated are selling between  $420k -$525k. 

The average everyday home seller doesn't want to hear your creative solution to their "problem" (because they don't have a problem - they just WANT to sell).

There is going to be short term volatility You can always buy real estate, but you can't always sell, as we are experiencing now.

Circumstance of needing a place to live with the intent of selling for a profit mitigating costs How did you find this deal and how did you negotiate it?

If there’s no rules simply get it pumped and put the specifics you know about it on the property disclosure form when you sell.

I live in a super hot oil patch town and houses sell like hotcakes.

My intention is to SELL the property because I want to get out of the real estate business.

The problem is that I don’t really know where to go from here - I’ve talked to the agent who wants to sell quick but don’t know the exact steps from here on out (it’s my first time doing anything in real estate).

Sure, there are rules and whatnot, but that's the gist.So... if are involved with the business from a day to day perspective, and if you have a profit motive, then this is no different than selling used copiers or being a consultant.Speak to a qualified tax pro to help understand the rules so you know how to position your facts.

Even with wholesaling that they don't want to sell using an agent you can have some agreement with a realtor.Let me know if you need any help here.