House Flipping Tax Question

[Michael Doucette]

Hi everyone, I am new to Bigger Pockets and had a quick question. I was wondering if we use a personal loan to purchase a cheap foreclosure and use that to purchase the property as well as use it for the cost of repairs, is that loan considered as house "expenses" when looked at from a tax standpoint? 

To rephrase, can we subtract the loan from the selling price when considering what will be taxed if it is a personal loan?

Thank you!

Mike