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Old     (rkinsell)      Join Date: May 2005       07-19-2013, 12:26 PM Reply   
I bought/remodeled a home in Feb 12' in Scottsdale, AZ. Since then my neighbor, (who is stage 4 cancer) does not want to mess with the real estate market, and wants his home to go into good hands. He's approached me with an offer that I cannot refuse to purchase the property. However, I don't really want to move into this home and I would like to purchase, remodel and sell within 3 months. Does anyone on here know the best way to approach this tax wise? It is a larger home with a pool, so classifying it as a primary residence will not be a problem. Would I receive any backlash from buying this as a primary and selling within 3 months, then "moving" back into my old place? Has anyone gone through anything similar?

 
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