What a unique property!

Even if it takes ten years to complete the flip, the acquisition date is always in the same year as the sale.Consult a licensed tax professional for specific guidance as it may relate to your unique circumstances.  

Currently I have been toying with the idea of living with two other roomates when I get out of school.  

And, I know of a unique funding source.

I don't think my situation is unique but I am getting advice from a successful person, who only invests one way.

Or would you like to see that benefit earlier and start to consume the wealth with giving and toys and lifestyle?

I cant help myself what toys went into the garage :-) ?

@Kenneth CowanI'm glad you added some of the expenses I was referring to.  Yes

Darren Pettyjohn (from Proper Insurance): Specialty insurance, better known as program insurance, is basically when you create a special insurance policy for a unique risk—a risk or exposure that isn’t covered correctly by a commodity insurance product.

What I found when doing my research is the Canadian REI Market (and more specifically, Alberta) is a unique market unlike many of those south of border.