And while it doesn't give you a very solid action plan, it gives you enough material to have a good conversation with your CPA.

Below are the details:Purchase Price : 215kARV : 310-315kRehab (including materials) : 30-35kMaterials : 12-15kTime to rehab : 4-6 weeksTotal planned holding time : 5-6 monthsBackend realtor commission : 3%The contractor is a friend of mine and wants me to finance the deal including materials and wants to come in with his sweat equity for the rehab.Question : he wants a 30% cut of the profits after deducting selling realtor commission and all holding costs.

And you cannot materially impact his 1031 unless he has already located the property he wants to replace this one with.  

I have read great material such as this article on Investopedia, but I am confused as how these taxes are really assessed and how I can estimate property taxes when analyzing a property.I looked up the home I currently rent in located in Jersey City, NJ (via this Jersey City gov link), I found that the property tax changed every two quarters.

Use it to fund the materials.  

My understanding is that the seller is requesting this statement as she is afraid of being sued following the completion of the transaction.The listing agent has engaged in character defamation (in regards to me) when speaking to the contractors engaged to do the work as well as the seller, and has also flip-flopped on agreements for work to be completed, and also verbally said the seller would provide a $6,000 credit (which never materialized).

I read through some materials on BP which talk about getting financing for second, third and more properties.

I was under the impression that when you paid to play you were allowed to self promote.

.  The reimbursement is limited to the cost of materials or the cost of properly documented contract labor (sweat equity may not be reimbursed). )So if the ARV is  $120,000 , does this mean that you can ONLY borrow a MAX of $12,000  ( 10% of the  $120,000 ARV ) to use for the Materials to repair and renovate the Property..... and you do the Work yourself ....aka FREE Sweat Equity on your part ? 

I think that it probably costs roughly the same amount for materials, appliances, etc here in Denver as it does in Cleveland, while labor might be about 25% more expensive.