If I'm living in the house and live there a year and a half and then sell it, am I going to get hit hard with taxes?

I generally send in offers at 7% as a nother poster on this thread mentioned as well, and will settle for 5%. 5% is the number thats hit most of the time, with about an equal spread at 6% and at 4% for the remainder.

I just hit a road block and need help with trying to get past this.

Is there any other way to gather details on sale prices / concessions etc BEFORE it hits the public records?

Some of the thing really hit home.

Then if you are worried about the dollar tanking, you convert it to a hard currency like gold coins at face value.Then you sit back, let everything fall apart and when it hits bottom start buying everything in sight with both hands.

At best you will still pay the federal and state corporate rates and at worst you could be hit with penalties for retaining earnings beyond the amount needed to conduct the business.

It is obviously being used as a shack of a home, the owner is 3 yrs behind taxes with several preforeclosure hits on the tax role over the years.

After I gift her the max allowable amount is there anyway I would be able to either pay part of the downpayment, or put any more money into it without getting hit with the gift tax, or getting into shady business?

I've got a ruger red label picked out to reward myself when I hit a certain benchmark in my REI.Tim