I would also order a foundation inspection or sinkhole report prior to purchasing, if you don’t that fight with the insurance company is a "No Win" situation!

In other words, would a mortgage company have a problem with me using a HELOC towards the down payment? 

With providing some rough numbers, my extended work experience with my company, and my credit to the lender, he informed me that I could potentially qualify for a $250k property with an FHA loan and a conventional down payment assistance loan which would put me with little to no money down out of pocket.

There are companies with billions of dollars in war chests doing this all the time.

**Property Management Recommendations:** Could anyone recommend reliable property management companies in the Nashville area?

Unfortunately due to personal reasons, I was not able to attend the event.

The property is extremely mismanaged and the tenants are quite undesirable. 20 of the units are affordable housing tenants and 5 of them are on a master lease with this company who lets the homeless community use the units.

Another CPA can correct me if wrong but I don't think there's going to be any recapture here.27.5 to me implies 1250 property and if acquired after 75' means no additional depreciation to recapture.I think there would be unrecaptured 1250 in the amount of the depreciation taken previously, max 25% at ordinary rates.The total gain less unrecaptured 1250 I believe would be 1231 capital gains, not considering other factors like look back and netting rules.Also the land would be 1231 and would get capital gains treatment.And personally I would subtract selling costs as a capitalized selling cost.Amount RealizedLess: Adjusted BasisRealized Gain/LossLess: Selling ExpensesRecognized Gain 1001I could be wrong though so correct me if so.Article for those interested:Depreciation recapture in the partnership context (thetaxadviser.com)While Sec. 1250 only requires additional depreciation to be recaptured as ordinary income, Sec. 1(h)(1)(E) subjects unrecaptured Sec. 1250 gain to a maximum tax rate of 25%.

Whenever a person is ready to sell, a thorough cleaning that gets in the nook and crannies is needed.

The group meetings are a little more personal than the REIA.