Section 453 (Installment Sales) allows investors to avoid the bulk of capital gains taxes ordinarily due on the sale their investment property.

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And every time they show the Gain, it is gross, not net of real estate commission (Montelongo's seem to have their own real estate licenses as well as mortgage license), closing costs, stamps on the deed and mortgage, etc.

If you sell it after 1 year then you will be taxed at the long term capital gain rate, which if I remember correctly is 15%.

I have been reading all of the forums working my way back and I have already gained so much information but nothing beats hands on work.

Better yet, move in it for two years, let it appreciate and then take your tax free gain.

I have been reading all of the forums working my way back and I have already gained so much information but nothing beats hands on work.

Over a year its taxed as a long term capital gain, 15%.

And you need gainful employment.

It Appraised at $700k.We’re thinking of refinancing the construction loan to an 80/20 int only.80 @ 7.2% 20 @ 10.8% We’d get $250k cash-out to pay off debts and buy land for another new house.I'm living in the house now; We’d sell the house after 6 months (1 year after acquisition of land = .05 Capital Gains tax).