It is hit and miss situation.

Basically, you have hit the nail on the head.

We would kill for ANY contractor that could hit a deadline "professional" or otherwise!

If you are holding less than a year you would get hit with short term gains.If you hold for a years time you would get hit with long term capital gains.If you defer the gains with a 1031 after holding a year and selling to the city then you will not pay anything if done correctly.While there is no rule on 1031's case law and 1031 companies site 1 year as being safe to do a 1031.Anything less than that and the IRS has been challenging you are holding for resale purposes and not investment purposes.Simply have the city purchase after your 1st year of ownership is up if you want to avoid the gains taxes and do a 1031.

Congratulations to Josh for hitting 100,000 members.

Much easier to hit someone up on Facebook, twitter, or via a text.

Now a good deal hits the market and it is gone within the first 30 days.

Though the Level of "Pissed Off" hits another notch when it's a pissed off probate lead.

Then we hit a snag (as all mortgage proceedings do)...No lender is willing to credit us the rental income @ 75% because we don't have 30% equity in the property that we currently live in that we are going to rent out.

Here are what the report from trans-union and their testimony:[b]THE HUSBAND- Currently Unemployed- Collecting Unemployment of $1,100 for the next 5 months- Have 2 interviews in a big hospital in the area- Works in the medical industry (hospital)- Rental history checks ok- Credit score of 631- Installment loan of $34K, owes $24.8K and its past due for $104- Have 4 collectionsin his records: $111 bank (2011), $59 medical (2006), $193 Verizon (2009) and $52 Electric Bill.