(Goes to Long Term capital gains rate which I think is 15%) I think your tax now would be calculated by taking your net selling price less your payment price and adding any capital improvements (which I didn't see any of those).It should be taxed at the owners, sellers income rate. 

Technically no, because most RE law and taxation is done at State level.What (I hope) he will improve is the economic climate.

Frustrated with the system and the homeless rates of former foster youth, I developed my own program to improve those outcomes.

If anyone is looking for the little orange book that Brandon and Josh reference a few times in podcasts its the 1-2-3 Home improvement book from Home Depot.

I boarded up the home and fenced off the lot for safety, but made no other improvements to the land.The strategy and patience paid off last month with a sale to a developer who also purchased a larger, adjoining piece of land.My cost for the property, including taxes and other holding costs was a total of just under 70K.

If another investor buys the tax lien from the state, that investor can make "preservation improvements" and your redemption price will include the VALUE of those preservation improvements (not just the cost to make them.)

Second, I'm not sure about the ARV as I am currently a buy and hold investor, therefore, I'm not looking to improve the property to sell, but to make it a desirable living place...which I learned quickly are two totally different animals.  

I am planning to see property A to buy property B using 1031 exchange.In order to get top dollars for property A, I need to do some home improvements (paint, carpet, etc.)Is it possible get money from the 1031 exchange sale to "pay me" back these expenses, tax free?

Hello GeorgeI congratulate you for even being in a position to think about purchasing an investment property but I think you would benefit more both short and long term if you improved your existing situation before you pulled the trigger on any type of purchase.First of all, your 600 FICO will make your decision as to which type of loan you want to proceed with a lot easier than you think.

The remaining $35,000 was spent on improvements to those capital assets.