Please also review your title commitment carefully and be sure you understand what each exception and exclusion from coverage that will appear in the policy means. 

The reason for the question is that if you are saying you have a capital gain on a personal residence it might not in fact be taxable at all depending on your holding period and usage (121 exclusion - 2 out of last 5 years rule). 

The other exclusion would be if the person doing work is taking payment via credit card.

Thanks, @Will Barnard.I am exclusively flipping houses right now, and the seller's market status isn't much a concern because I'm the seller on the back end. 

Then i run the rehabs and even help market the properties ...my goal is to have have 3-5 projects going at once and hopefully have a new property come to market each month ..that being said its very difficult to find acceptable properties that have enough profit potential right now in this market right now although, I have a really great lead on one, and I'll be the first to look it exclusively.  

They are hired to represent seller exclusively.

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion.

I'm new to this so do your own research, but Jason Hartman does the out of state thing exclusively.

And at the risk of being a fuddy duddy and irrelevant - don't pursue real estate to the exclusion of fundamental learning.  

When you can say things like "I dont work with first time home buyers" or "I dont list those types of homes" then you start educating people on what your brand is.Eventually people will say "go talk to Eric he deals exclusively with investors" or "Eric specializes in those types of homes".