Hey everybodyI currently have a house under contract I’m buying from auction with hard money.

If you want to defer all tax you must purchase at least as much as your net sale (contract price minus closing costs) and you must use all of your net proceeds (net sale minus any mortgage paid off) in the purchase or purchases.    

It is kind of irrelevant and the contract between party 1 and party 2 is not listed for party 3 to dig through.

Thanks @Walter Key I will contract out the stuff that took me way to long. haha.

By then I've already terminated the contract with the seller because they wouldn't renegotiate based on other issues I found with the property.And the land survey company still demanded a full payment after they delivered report late.Is it normal for land survey to take this long?

I’m not sure if I should use my normal contract, then have him and her quit claim the property to a trust or if he would only quick claim his portion of the deed.

We went under contract within 2 weeks and I see parts of Decatur on the upswing again.Either way, there are still many ways to make money in this market and I still believe there are buy and holds out there. 

We didn't do it from the beginning, because we felt negotiations were easier  under my name with this particular seller, and we needed the seller to sign the contract ASAP before a higher offer was submitted. 

If you have no money, you are putting a property under contract that you don't have money to purchase.

I do the basics myself sinks, toilets, bugs, washers, dryers but for AC I always put them under contract with a local company for 24 hour support and quick fix.