We looked at this as a rehab and resell.

The Sedona property will be a vacation rental since we go there each year in the winter, and can rent it out the rest of the year or resell.

Flipping PropertiesIf the primary objective of your real estate business, or one of your real estate businesses, is to buy, potentially fix up an existing property and resell it within one year, the Internal Revenue Service can consider that to be an active trade or business.

They will lend me money for a few hours to close and I will pay them back plus interest once I resell the property to my end buyer.

Sure you can close it and then resell it

So, first you buy it, then you resell - usually after doing nothing to it - and you sell quickly for a minimum mark-up.I don't know how there can be enough profit in an MLS deal with an agent for you to buy and re-sell to an investor who will also have profit in it when they buy.

@Zilma Yotte-Johnson Real estate investors are always looking for distressed properties that they can rehab and resell.

Or find other wholesaler to partner with. 4) Financing: If you decide to keep it then start talking to loan brokers to secure your loan.5) Close: Either you make acquisition or resell. 6) Word of caution: Getting a contract is easier compare to getting a good price for the contract.

For an HDFC coop, they tend to have income restrictions (meaning you can’t purchase it until you make less than a certain amount) and as a result of only being able to resell it to someone also making less than a certain amount of money it usually means that the property doesn’t appreciate very much.

Make for a tough resell and it's my thinking that you would be discounting on the resell.