This is when it's ready and available for rent.

It is exactly what it sounds like, buying a property that has an existing debt on it.

They might be willing to give different terms especially to a high net worth person that they can likely make money on cross selling.

As @Joe Villeneuve recommended, would look elsewhere at this time.  

Of course, there's a lot more to it than I put in this paragraph, but I hope it helps with general parameters. 

Soon I'll be purchasing my first ever investment property (Virginia) (MFH) and I honestly feel like I made a mistake.

Good evening to all,Happy to now be part of this big community and I’m excited to take notes.I’ve been interested in investing in delinquent tax sales here in Houston.

This house at 35 Picardy Pl is 5/2 for $2700 asking 325900 is an above-average area. 

Here is my Cliff Notes on this elaborate example:If you have unused losses from the past, they might significantly soften the tax blow from a profitable sale.I don't see how this is called "strategic play" or "premium lemonade."

Does having an LLC make it easier to distinguish on a tax return that this is a rental property.