In general, all of the costs associated with rehabbing the flip would go into the basis of the property and would reduce the gain at the time of the sale.There are many factors that impact your situation so find a qualified tax preparer that specializes in real estate to give you advice specific to your situation.Ed

I have heard of lenders doing this, but that they charge an interest rate that is associated with loaning to an LLC, not an individual.  

And a full scale asbestos survey shouldn't cost more than $300, and then you'll know exactly what you can and can't mess with. 

Parts of this neighborhood reminded me of the North side in Richmond Va where i am from.  5 The wedge and area 2 - have not had the chance to survey yet.I know a few drive bys are not enough to be able to understand the lay of the land so i may be totally of base; which is why i would love to hear from folks that are more seasoned Hope to get a good conversation going.thanks,satha

You're only looking at a gain of 20kWere there any other costs associated with the condo? 

This home is in an association, so I don't have to cover roof/siding/exterior in any way, but water softener, furnace, appliances etc. are obviously all on me to maintain.

All real estate agents log into a subdomain of MLSListings (pro.mlslistings.com) to enter and access listing information.The Silicon Valley Association of Realtors (SILVAR), Santa Clara County Association of Realtors (SCCAOR), and the San Mateo Association of Realtors (SAMCAR) control who has access to enter listing information into the multiple listing service and by setting standards of conduct, regulate real estate agents.

Hi, I just recently got my Tennessee real estate broker's license and primarily do business in Georgia & South Carolina where the GA & SC Association of Realtors provides members a ton of standard pre-printed contracts, including a Residential Property Management Agreement that is to be signed by the homeowner and broker.

@Roger Perez you should really look into the declarations page for the Condo association.  

Keep looking.Whittier does have an apartment owners association which is worth attending.