Glad to see you found us.Those of us from PA have been a minority around here, but we are gaining.

There are some valuable local groups that may be of interest to you.rdinvestors

After attending the bootcamps back in 2008 I've now done close to 40 rehabs; many fire damaged and full gut jobs, that I would have never done without the knowledge gained from the bootcamp.

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 a Wal-mart wants to develop on a few raw acres of commercially zoned land, does it make that land a lot more valuable?

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.

Originally posted by "MikeOH":If you own a lot of rentals or even a few over time, your numbers will trend toward the average.First, I absolutely agree that the 50% rule is a valuable tool for doing an initial assessment of a deal...But, that said, the statement above is just plain incorrect.Mike - You'd probably agree that across the hundreds of thousands of SFH investments across the U.S., the average purchase price for those properties is around market value for their location (in fact, you'd probably agree with this almost by definition).

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.

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