This company operates precisely the same as ShowMojo.

And  if we did a 1031 exchange later, I think I'm correct that having this cost basis established at today's market value vs 2001's cost + improvements would serve me better in the 1031.- The depreciation amount for my rental house would be maximized bc would be set at the selling price / current market value vs 2001 cost basis + improvements.

A lesson from the N Backer Avenue deal was the importance of precise budget management.

A couple of years ago I sold an LTR and 1031-exchanged it for an STR in the NC mountains.

It will be essential to have precise estimates for prospective rental income and insurance expenses when determining whether or not your investment is feasible.

I think Southern California (my area) is precisely the "most affected" area of which you speak, hence the trepidation of engaging in current flips. 

On-site evaluations allow you to examine the property's condition, identify potential difficulties, and precisely estimate renovation costs.

The foreclosing entity will file a motion for relief, get it granted, and after you bought 30 days in exchange for destroying your credit, they go to sale anyway.

The challenge was executing a same-day transaction with precision, but the deal underscored the value of having strong partnerships and a clear investment strategy.

With that you are CHOOSING to pay the lender some money up front in exchange for a LOWER interest rate.