I ended up making my time into fun math:(Cost to have Contractor do it) / 2 = Fun money!

If that's not specified in your contract I don't see how you can be held legally responsible for them, and the same goes for his $2,800 in marketing fees.If he actually spent $2,800 in marketing with a $2,500 flat fee commission, he's either nuts or really bad at math. 

The structure costed $200,000, so the math should be:Realized gain will be $2,000,000 - $300,000 = $1,700,000Long term capital gain tax will be $1,500,000 x 20% = $300,000Depreciation recapture: $200,000 X 25% = 50,000Total tax due: $350,000Am I right?  

I created my own property analysis spreadsheet to learn the math and have practiced the analysis on several properties.

I put the math on paper in a way that makes sense to her.  

@Robert Richardson see below link that explains the new rules on this, but with a down payment under 10% on FHA, it looks like you are stuck with MIP. http://www.fhahandbook.com/blog/do-fha-loans-require-pmi/Before you rush to refinance, do the math and see how the numbers compare.

The other thing would be to double check your math, are you overestimating expenses?

Second question is, if you plan on keeping it as a rental after, have you done the math?

If you're like me and enjoy math, I'm sure by now you've realized that paying 50% of the monthly rent rate every 2 weeks means you get 3 payments in a month every 3 months or so (i.e. the "extra Friday"). 

In particular, I'm looking to familiarize myself with the terms, risks, math and finer details of being a passive investor in real estate syndicates.