Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

(gross rents $4900; 8% PM; mortgage+insur+taxes = $3600/mo).

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

Assuming this is an 8 cap neighborhood you'd have a ~$420-450k value within a year (unless property taxes are crazy high) when leases would renew since it'd be valued as a commercial building with the office space.

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

Just ensure you do thorough market analysis to avoid pitfalls.3.

Let's assume your expenses (mortgage, taxes, insurance, maintenance, vacancy, etc.) comes to a clean $600 and the property rents for $1,000.

I usually run several CMAs, with different criterial, and of course compare tax appraisal value with a wholesale price, add 5% as a fee to a transaction, in some cases.

Would it be wise to buy the land with cash we have or utilize as down payment to avoid PMI?

Taxes 10k HOA is 9k The current owner never did short-term rentals.