You have to know what you are doing and pay close attention to your campaign.

Our buyer will then buy it from us with cash (so yes, we will have actually owned the property for an hour or so)So, if our profit was $40K, are we liable for capital gains tax, regular erned income tax or what?

If I can gain nearly $100k equity in this, i would want to look more into it :)

At the end of the day, it's still cheaper and instead of throwing money out the door each month on rent, I'm owning my office which may not have any equity from paying down principle but will gain equity as the market turns back up again a few years down the road.

Pay attention.

You would need to hold the property for some period, probably a year plus.If you're planing to just turn around and sell this quickly, its either short term capital gains or ordinary income.

Trying to split my attention in too many ways is counterproductive, real estate is my end goal and I would probably do best to stick with that field.

also, you would have to pay capital gains tax on that too correct?

So, in essence I suspect these properties are "paying off" via some small cash flow today but your expected gain on sale could be many, many years away.

If i get the deal talked down to where i want it i think it might peak the right investors attention!!