Newbie here...so I'm tracking, does that mean he'll have to pay taxes on the 100K he profited? 

According to RealtyTrac and the National Association of Realtors, the average Fix & Flip takes 6 months, has a gross profit of $67,000 (before rehab costs are subtracted) and has a Net Profit of $15,000 after all expenses are accounted for.

and when the property is sold, regardless on 1031 status, all profits are taxed that year with no credit since no US taxes were paid.

Are profits from wholesaling treated as short term capital gains then?

Plus some of these rentals have seasoned long enough that even with all of the deductions they are starting to show significant profits from rents alone.

Flipping in the uk has low transaction costs and therefore makes lots of sense, but this post (below) made me a little crazy because in the US, transaction costs make sure the entrepreneur with all the risk/work gets only half the profit....even if it goes well....whereas the realtor(s) and money guy gets half ( or more) of the flip for close to zero risk.

Yep I was going to say if you're doing southern vt, it's going to be most profitable to do air bnb on ski properties.

It is a suburb in South Jersey along the Delaware River, about 5 miles outside Philadelphia with easy highway access and available public transit to the city.

Like I said it is a good deal and I stand to make a really good profit, if it all goes according to plan.

Assuming the place could be rented for $2800 per month, is  the resulting $350 profit (based on all my guesses) enough to cover the things like putting money away for repairs and whatnot?