I can also just withdrawal the contribution amount and avoid the penalty and tax.

Then add ALL costs related to holding the property (utility costs, insurance premiums, property taxes, loan payments, etc.).Concessions: Concessions are what you give back to the buyer at closing.

Data Points:101 Latham Place, CharlottePurchase price - $116,000Buy Side Closing Costs - $5000Total Rehab Cost Budget - $100,000Total Financed Amount (purchase + construction costs) - $190,000Estimated time to Rehab: 5 Months (based on conversations with multiple GC's and Architect)HML Cost to Borrow Interest  - 10,000 (12% rate on 190,000 borrowed across 5 months)HML Cost to Borrow Points - $7,000 (3.5% on 190,000)ARV - $310,000Exit Closing Costs - $3,500Staging Company to Sell - $3,000Holding Costs (utilities, taxes, insurance) - 2,750The Total Rehab Costs is based on what I believe to be a reputable GC who has experience flipping in this neighborhood.

Maybe then open an LLC (I am not a licensed attorney) you would have to speak with in attorney to determine whether it is best for you to go LLC of S Corporation etc then find a good tax accountant.

Hello,I am analyzing my first property with the Bigger Pockets Rental Property calculator but couldn't seem to get over the hump at what annual property taxes are for this large scale of a property?

It's a 1200 sq. ft. 4/2, however, tax records indicate a 3/1.5.

Hi,any good mentor in DFW area to learn Tax Lien / deed?

Our state lobbyist out of Olympia spoke for a full hour on the socialistic bills and ideas coming out of the city council in Seattle in the Capitol.They are contemplating or have already enacted rules regarding no rent raises when service calls are unresolved, must show cause to terminate a m-m agreement, rent control, 5% capital gains taxes on RE sales (in addition to the 1.7% excise tax), pre-'78 lead inspections, periodic unit inspections, etc.  

Once received, escrow company will record.What date does the new buyer start paying- HOA dues- Interest on the loan- Property Taxes- Property Insurance

*Holding costs (e.g. taxes) will become my responsibility only after closing.