I will chime in towards J Scott' s reply...I recall homes in New Orleans after Katrina were condemed alng with the whole neighborhood making it impossible to insure after the rehabs.

If lower -- say 10% -- then you would be looking at a value close to 270k.Your real profit, of course, is the difference between what you can sell it for after re-hab (net costs of sale such as commission, legal fees, conveyance tax and also cap gain tax) less what you have into it -- purchase price, rehab costs, and all carrying costs during re-hab (such as mortgage interest, prop tax, insurance).

General admin: not much in the small props, but it costs for the evictions, accounting, legal.

Expenses such as damage, clean up, re-rent marketing, legal eviction, etc.

Because the characters ion the tv show dont know what the costs are for repairs its impossible to know what the profit will be without getting inside.

Yes, you need an attorney, don't even attempt to do this on your own, there are many issues and requires legal aspects, lending/finance as well as insurance issues.

Make sure you get it reviewed to ensure it's legal in your state.http://www.biggerpockets.com/renewsblog/2010/02/17/whats-in-a-contract-contractors-rehabbing-real-estate/

I would consult legal counsel before acting but I respectfully disagree to say it is an SEC violation per se to mail to a private money list.True if you offer a specific percentage return or offer participation in a specific deal you may NOT legally do so.

A legal contract eliminates the gray area and spells out expectations and responsibilities of each partner.

So buying a property for $100K today and selling for $150K in the future could potentially cause as much as $150K capital gain (rather than the actual $50K gain).It's impossible to predict what taxes will be like in the future, but [1] am I right than in the situation described, not depreciating the property might be beneficial (I.E. am I overlooking something obvious?)