Hi Charles, I think you made the best decision in terms of an exit strategy. 

I first learned Notes when I was 15 yrs old and have over 30yrs experience. 

I wish!! 

I just want to hear from knowledge people about the law.

So just to clarify- I can deduct the cash investment I put into this flip as COGS when I go to sell the property if it takes more than 1 year to flip? 

There, you'll find detailed information on investing, both in general and specifically in Las Vegas.Before I continue, note that unless otherwise noted, the charts only include properties that match the following profile.Type: Single-familyConfiguration: 1,000 SF to 3,000 SF, 2+ bedrooms, 2+ baths, 2+ garages, minimum lot size is 3,000 SF.Price range: $320,000 to $475,000Location: All zip codes marked in green below have one or more of our client’s investment properties.What we are seeing:The chart below, from the MLS, includes all property types and price ranges.

I would pass on this deal.

Quote from @Ashley Mierez: I would search local meetups..

I have a market, NOT a "war zone" that I can consistently hit 1%+.

I would walk the property (if you can) with a trusted contractor, but get the opinion from several.