I recommend you call and ask a title company or a closing attorney the question, as the amount of transfer taxes varies from locality to locality.

That $2k number comes from the IRS and sometimes changes or varies depending on the type of work.

Vacancy rates vary widely by area, in our area most is less than 1% so do your homework on vacancy.

I have located several vacant homes i would like to target any recommendations for the wording of the letters would be appreciated due to my lack of experience i will rely on the experts here to advise. thanks in advance Keith 

Do not rely on this as anything official, but if BoA shows up as the owner on this, the property was foreclosed on sometime in the past.  

I am hoping that even though prices will vary greatly from area to area, this might help put give some perspective on what goes into flipping a house.When we (my real estate agent and myself) found this property it was listed by the VA as a foreclosure for $45,000.

@James Su - Its located on the south side of Chicago which varies block by block.

Here's how it works in Michigan (dont know if it varies in other states )For FHA financing the title has to be seasoned for 90 days in order to enter into a purchase agreement .

Appreciation on the other hand is not "expected" it is hoped for based only on past or immediate situations and does not necessarily rely on business practices to be achieved.

I believe that is going to vary from market to market.