The seller wants to sell it for $50k but has requested to put it down on paper for $5k, so he can pay less tax; the remaining $45k would just be given under the table. 

I don't believe there is any set price table for things like a pool or spa even though most people feel there could/should be.

It's a higher value property and still a good amount of equity left on the table.

I'll be the first to admit it - I've panicked at the signing table.

Consequently, investors may find themselves in a situation where bringing cash to the closing table during the refinance is necessary, which might not be feasible.

Those transactions don't show up in the reports.They are doing Subject To "table closings" in the home, with older and distressed homeowners not using escrow or they are getting a cooperative escrow company to not record even though title has changed.

If not, sadly, the allure of low rates and no points is taken off the borrower's table, but so are the licensed LO's that have little to no experience in DSCR.

Lesson: don't do illegal things like rent out units that aren't up to code  - some people with paid off properties try to be cheap and do things like this or do under the table rent so they don't report rental income to the IRS.

If there were some things that were done to show your intent to hold for productive use then the 1031 might still be on the table. 

For example, in 2024 if married filing jointly see table below.You could also do a 1031 exchange to avoid the taxes completely but have to invest all money into a like kind property of higher value.