Which would make both versions correct.

There are loans that serve the purpose you seek in conventional, hard money and ARV based versions that would allow you to roll in the cost of purchase + rehab + closing costs (and in some cases, monthly payments) with as little as 10% down (the ARV loan would be an exception to this guidance).You haven't shared enough info about the property, tenancy, cash flow, etc. to determine what direction you should take, but you might want to review your financing options before using your home equity for the down payment (you are going to need cash reserves to find rehab in lieu of reimbursement).

In the US the short version of the tax code is, "income, from whatever source derived, is taxable".all cash

I dunno..........IMHO, most RE courses today are recycled & redundant versions of Ron Legrands & Carleton Sheets courses from 1990.

You earned nothing and have nothing to deduct.You might have had expenses (driving around, fees already paid and not recoverable) that can be deducted.The simple version of the rule is money actually spent on business activities might be something you can deduct.

The software that I use for Blogging is a stripped down version of Wordpress that I get with my real estate website.

As the property was in London and close to the City (think London's version of Wall Street) the timing was rather mixed.

The lender can agree to reduce what they are entitled to (a short sale).The HUD1 is a draft version from you to the lender to show what they will net.

Jim,:welcome: to BP.As a returning member I would expect you can step back into your prior personality.Maybe you want to add s short version to your signature so people will be reminded of the old name.

There are several commercial loan programs that allow for 90 LTV in both a STATED & FULL DOC versions---what are you seeking to finance?