(Too bad 1031s arent an option)Also if the land was purchased at $20k per slice/lot and i valued them as $50k once sold, would the sell of land be taxed as a straigh capital gain and not be subject to these other taxes?

They must be as close as possible to the subject property (quarter mile or less) and be as close as possible to condition, square footage, number of bedrooms and baths.  

As the subject title says, we're from Longmont Colorado just half an hour north of Denver. 

I've heard of people putting a provision on a seller's document that it is subject to inspection.  

If I'm using the TREC resale contract (Texas), how do I write the deal to be "subject to" the existing mortgage.  

These banks can offer products called portfolio loans, which are not subject to the same regulations as "conforming" loans.

One way around that is learning how to acquire properties "subject to" or through owner financing.

One month before the scheduled end of the lease between these parties onthe said property (including any extensions as provided in writing by the Owner) andprovided the lease between the parties for the same property is not and has not been indefault, an Option to Purchase Agreement for the subject property will be granted inwriting and delivered to the lessees.

I'd like to outsource the rehabs to contractors and consider their wage in terms of the "total investment" of the subject property.  

But it doesn't mean you cannot negotiate terms as to allow you time to sell subject property.Assuming the numbers are correct in your post...