Also what does the city say is the assessed value of the property on your taxes (it will be different than the appraised value, but should give you an idea).

Before you close, can the rent from your buddy and the midterm tenant cover your mortgage, taxes, insurance, plus a bit extra?

Tax deliq, preprobate, etc.  

On top of that there was an $8,000 tax credit, as an incentive since people weren’t buying.  

Any way around paying the very high property tax, school tax etc. in SC?  

Some are owned by my ROTH IRA and are making tax free cashflow.

$500 per day penalty up to $10,000 and up to 2 years in prison for willful evasion per entityNo cap on the amount of entity penaltiesCheck with your CPA, Tax Advisor or attorney on this as it is a freight train of compliance coming!

When that portion was complete, I could then receive draw money which allowed me to pay my utilities, taxes, and mortgages.

https://www.qcnews.com/news/investigations/unfinished-business-multiple-homeowners-claim-nc-builder-took-bank-draws-cash-and-left-their-homes-unfinished/?

So, this whole "you must live in the property for 1 year" claim that we see online seems to be completely baseless.