Pretty simple loans that close in 30-45 days depending on the length of time it takes to get the appraiser out there and back.Stephanie

We did simple remodeling.

Makes tax season simple for me. 

It is not as simple as writing a check.

Here's a simple example (because I'm a visual learner lol):Assumed ARV = $115,000Purchase Price + Cost = $45,000Rehab Costs = $35,000All In Costs (total above) = $80,000 financed fully by a HMLBut then the appraisal comes back at $100,000 and you're only able to obtain an 75% LTV, meaning you'll only cash out $75,000.

I know thats vague , but to keep it simple 

They probably don’t have the records or realized “deferred maintenance” is a thing.Maybe some writing and simple math?

Here is a calculator to figure the tax. https://smartasset.com/investi...If you are planning on living in the home before or while updating it then there would be no capitol gains (I think).Here is what I found with a simple google search.The Rules Of Primary ResidenceIf you own one home and live in it, it’s going to be classified as your primary residence.

You sell for 200K you would owe Capitol Gains on 75K (if you owned for longer than 1 year)  This is a simple explanation. 

This is just a simple overview.