http://www.irs.gov/newsroom/article/0,,id=204671,00.htm
This link is for the IRS web site regarding the first time home buyers tax credit of $8,000. This must be your principal residence and you have to keep it for 36 months. Flip houses will not qualify - so unless you want to owe the IRS $8000..... You must also be under contract no later than 04/30/10 and close no later than 06/30/10.