Then subtract this basis from your net sales price (contract minus closing costs). 

You way you are months away from closing.

First time home buyer programs to pay for downpayment closing costs and renovation How did you add value to the deal?

Hello everyone,I've been closely examining a property listed on Redfin and am curious about the estimated rehab costs for a project of this nature.

Figured we could try to negotiate lot premiums, design incentives and closing cost incentives ourself. 

So you would be about breaking even after the closing costs when you bought it.  

Not even close. 

Also, 30-day notices are typically legally required to cover the regular term of the corresponding contract.

There’s a lot of misinformation out there that is presented as knowledge.One can do a reverse exchange where one buys the new property first and then sells the original property after - all via a 1031 process. https://www.investopedia.com/terms/r/reverse-exchange.aspReverse exchanges do exist and they are “legal”. 

Our primary mortgage is $2,049 a month and my wife and I make pretty close to $400,000 in income from our W-2s.