Welcome to BP @Terrell Perrin What kind of properties are you seeking?

Im a young new investor in the DMV area who is currently seeking any seasoned investors looking for assistance in their flips.

As to this discussion, your tax rate may be too low if you end up holding for less than 12 months and don't get long-term gain treatment.  

Which came first…hard to say.I have never reached an impasse in negotiations b/c of a claim in seeking excessive profits but it has been just another thing in the long list of claims buyers/realtors make to justify a low offer.

If so, you may be able to foreclose, but seek legal advice.

While this is my first flip I'm hoping the term is longer than 3 months.In the mean time, i'm also seeking referrals for Private Lenders but no such luck as of yet.

Then perhaps I'll call him in a month and see if he's ready to settle on a lower price.Alternately, I could offer to market this at 470k'ish, looking for a 10k profit, and see if anyone bites andpossibly seek a best offer, In this case I would market for live-in buyer with cash.

In my area of the country, if you are seeking a money judgment for up to $5000, small claims court is the venue.

If this is a large investment, it is probably time to seek legal council.

Determine the initial COCR after rehab and financing and then seek to keep the cash flow the same or better in future.