Consider aspects including property location, market circumstances, financing arrangements, and long-term investment goals as you carefully study and assess your possibilities.

Given the circumstances you've described, it seems you have a strong case for taking legal action against the seller.

You can be pretty sure, however, that if you're doing it a lot, and its your full time job, it will incur SET.Under certain circumstances, you can use a 1031 exchange to defer (not avoid) taxes.

In light of these circumstances, I'm seeking advice on the best financing options to address this costly project if insurance coverage falls short.

Based on these circumstances, and also just in general, I'm wondering how investor-friendly agents out there approach sellers that have a home that is too overpriced for a fix-and-flip situation? 

Based on these circumstances, and also just in general, I'm wondering how investor-friendly agents out there approach sellers that have a home that is too overpriced for a fix-and-flip situation?

They can know sellers seeking a quiet transaction, or they might have information about off-market properties.Because off-market transactions sometimes include personal circumstances, keep in mind to approach potential sellers with professionalism and sensitivity.

What do folks recommend in this circumstance? 

Hey @Olga Daisel, Check out Sec 280B to ensure your facts and circumstances apply here.

This allowance does have a phase out related to your income, so it would vary depending on you and your wife's specific circumstance.