If that's a "scummy" concept, then I'm not sure what would not be classified as such.But words mean nothing.

Otherwise, the deal will fall through.Accounting purposes, taxes are just classified as an asset/escrow account and closing cost is something that should be capitalized.

@Shelby Bybee, chances are the difference between the sales price & FMV would be classified as a gift anyway. 

Purchase price: $21,500 Cash invested: $90,000 This was a BRRRR investment that went sideways, and although my partner and I lost some money in that we did not get back all of our money, I would not classify this as a failure at all.

Purchase price: $21,500 Cash invested: $90,000 This was a BRRRR investment that went sideways, and although my partner and I lost some money in that we did not get back all of our money, I would not classify this as a failure at all.

IF you do use the VA loan and demonstrate intent to move in, that might work but in most cases, lender is going to classify as a investment property and want income to verify.Florida is a great place for STR and I've heard good things about the Smokey mountains.

Even though you seem to be in alignment with their future use plan, this sounds like it would still be classified as "rezoning". 

From what I’ve seen, it shouldn’t 100% count towards your DTI since the tenant is paying the rent plus you should absolutely be able to classify the cash flow as income.

The property is classified by the county as a residential property.

However, as the above authorities demonstrate, a partnership for federal tax purposes is broader in scope than the common law meaning of partnership and may include groups not classified by state law as partnerships.