And DIY repairs are not recommended for other reasons: it will take you much longer to complete, depriving you of rental income, and you run a high risk of your wife becoming your ex-wife.Same risk exists if you push your wife into becoming a Realtor or some other real estate activity just for the sake of tax benefits.

Is there a promise of some new chip plant?

Does this completely prevent the tax lien holder of getting additional gains after foreclosing? 

Just say no.I would almost never do this trade unless all my downside, including potential unknowns, were completely compensated for. 

However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial.

You can usually get a lender to go 85% of cost or 70% of the As Completed Value for such a project.

Hello,My wife and I have completed about 30 flips, 25 or so have been from the MLS and the other few have been off-market deals presented to us by wholesalers.

So every month we have a member of our team reach out to investors to check in and see if they have questions, wish them a happy anniversary for investing and just check in…..Over the past few months we have had multiple investors panic on calls noting “please don’t tell me my investment is gone” (NOTE as we mention above not purpose of call), as several have noted they cannot take another complete loss on investment.

Her unit was completely remodeled.

The permit process is efficient and can be completed in 4-6 weeks.