[inishowen]

Good points Spex,

All the more reason I don't flip, but being honest if I could consistently find properties in this area at a 25% discount off FMV, I wouldn't have time to post on the internet. That'd put a $500k FMV property at $375k which, even considering the state of the local market, I don't see happening right now. We can hope though.

I'm curious, what type of anticipated ROI (as a percentage) is your floor to make a flip worth the effort?

How do you file to avoid the regular income tax rate if you hold less than the qualified time for cap gains treatment?

Do you have a buyer lined up before you purchase or do you go the more traditional marketing route after taking ownership, or a combination of the two?