I am starting to write blogs to share what has worked for me in the past and hopefully someone can learn something from my experience.Best wishes for your future success.Sharad

He writes for the Blog as well as posting in the forums. 

If I later sell the flip for $200,000, since I am owner, is it fair to write up the listing agreement (that I sign myself I guess) where list side is 0% and buy side is 3% so I do not have any listing commission income and the profit goes to the home.

Seller agrees to notify Buyer in writing of any Defect which Seller becomes aware of after Seller's granting of, but prior to Buyer's exercise of this Option. which is materially inconsistent with the above representations.

You still have the home, you still make the payment, you still get the tax write off, the bank doesn't foreclose.

Let the tenant pay off the mortgage, enjoy the interest write off.

As far as writing off your expenses, you would want to set up an LLC and run everything through that in order to show the IRS that this was a business expense that is eligible. 

Sounds like a good idea, but make sure you write it all down and your plan before you make a decision.

Minimum contents of option contracts; recordation (a) Writing Required. - Every option contract, including any assignment of an option contract, shall be evidenced by a contract signed and acknowledged by...

Get your real estate licence and start selling property....More seriously, what experience, skills and talent do you bring to the table?