“So, while there will be a change, it will be done fair and progressive and we’ll continue to promote a business environment that fills up these office buildings in a way that also has built up our hotels.”The mayor added: “I’m committed to making sure that seniors on fixed incomes, people who go from paycheck to paycheck at the end of the month are held harmless…It is fair.

This is based on an eventual ARV of $85,000.00, a profit for your flipping cash buyer of $20,000.00, and a rehab budget of $15,000.00.Financial BreakdownPurchase CostsPurchase Price:($32,900.00)Purchase Closing Costs:($3,000.00)Total($35,900.00) Rehab Costs Total Rehab Costs:($15,000.00)Total($15,000.00) Holding Costs Monthly Holding Costs:($2,000.00)Total Days Held:90Total($6,000.00) Sales Costs Sales Price After Fix Up (ARV):$85,000.00All Selling Closing Costs:($3,000.00)Real Estate Agent Fees:($5,100.00)Total$76,900.00Total Profit for Flip$20,000.00NOW IT  CONFUSED ME...HELP NEEDED - I can't determine if the deal is good or not.Thank You in advance.

If I could go back in time I would have purchased a multi-family for our first property, lived in it for a year while rehabbing and renting the other units, then held it as a rental moving forward. 

I don't know if that's a good example, basically I'm wondering when a "flip" is not considered for "earned income" but rather "capital gains" or does it only matter with respect to how long the property is held."

We send out (or drop off) an intro letter to each new tenant like you said, including who to contact for repairs, where to send payments, and where their security deposit is being held.  

It was my understanding that when you had a mortgage with a lender they held the deed until the mortgage was satisfied.

I was told to wrap any outlet in a metal box (especially a two wire) with electrical tape.Those two prong receptacles are half the cost of a box of 10 three prong, so they can add up quickly too.

If the $500 is in the contract have the money held in escrow pending a legal decision or threaten to persue legal action so they will have trouble selling to anyone else.

I worked in the residential and commercial property management field for 12 years, even held a real estate licence. 

You create separate (or series) entities that hold the risky assets, which are themselves held by a holding company that is owned by two distinct legal entities (a single-member LLC is ineffective, and so is anything with two mirror entities such as husband and wife), each having a different class of membership interest and "poison pill" provisions that create tax ramifications for any judgment creditor that wants to attach the membership interest.