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).

All of the above posts are valid but you also gain experience just by asking questions.

I have never came across a place where I know that the knowledge I am gaining can be used in so many ways to create success in my life.

Also, do you purchase real-estate through your gains from the corporation, if so could you provide some knowledge on how that works?

If you know something that I dont let me know because I am going to be taken to the slaughter house on my gains this year.I do intend on starting a self directed IRA for the purchase of real estate that I plan on keeping some of my holdings and gains in for the 07 year

To avoid paying capital gains taxes on the sale of my personal residence before I live in it for two years?

Unless you are gaining some kind of upside on the property like a strong appreciation, then negative cash flow is not a good investment.

This type of investment is especially suited to insurance companies and pension funds that need fixed income-type cash flows on asset-backed paper rather than event-driven gains.