Prices are still going up but demand is now dropping substantially because, without the foreigners' money pouring in, it's likely not sustainable and demand is dropping strongly at the moment.

Not having these inspected would be a Red Flag for most and I've seen where it substantially affected the property value.....

Avoiding problems is a pretty substantial part of these types of transactions.

Closing with a backend buyer at $425,000, the deal yielded substantial profits.

Closing with a backend buyer at $425,000, the deal yielded substantial profits.

Closing with a backend buyer at $425,000, the deal yielded substantial profits.

After a brief search, the IRS says-For tax years 2018 through 2025, if home equity loans or lines of credit secured by your main home or second home are used to buy, build, or substantially improve the residence, interest you pay on the borrowed funds is classified as home acquisition debt and may be deductible, subject to certain dollar limitations.

I won’t use those losses to offset any other income except those K-1 losses.If he is wrong and I need to file to preserve those losses when I carry them forward do you have any documentation to substantiate that?

In terms of cash reserves outside of that we don't have anything substantial saved (our savings went to the earnest money) so our priority is to pay down the HELOC and increase income.

More questions for those in the know:If I have $100,000 available to overfund such a policy immediately, and want that to substantially be the total of what I put into the policy, what sort of policy size am I looking at?