Efficient negotiations secured the property for $155,000 on favorable terms.

The 6 homes would be kept long term.

That will help determine if Short term capital gain (ordinary income) or Longterm capital gains.  

-How long is the hold period, what would the seller/you be putting in with cash if any-What is the % of equity gained -Can any party get out early-What the risks, and who has rights to the deal

Are you looking to invest in short, medium or long term rentals? 

As long as renovations were done, that's fine.

Remember, hard money loans are typically short-term (3-18 months), so make sure your flip timeline aligns with the loan terms.

This allows for potentially lower purchase prices and more flexible terms.

There are many ways to avoid taxes, so nobody can give you a complete answer without knowing your entire tax situation.If your only taxable item was selling this condo, you would owe long-term capital gains on the $150,000 plus ordinary income on depreciation recapture.

Purchase price: $472,500 It is currently operating as a short-term rental.