You have the discipline and tenacity to probe as outlined.

Also 5 out of 10 of the last cover stories in The Economists magazines outline a collapse.

With your outlined strategy, I can guarantee you would be stuck with a house nobody wants to buy.

Speaking about tax court treatment, which would imply some knowledge of how the tax court works, under the rules of at least my jurisdiction, constitutes the unauthorized practice of law.For an example, here is my state's rules which clearly outline who may discuss what for taxes;http://www.vsb.org/pro-guidelines/index.php/unauth...Tax Professionals should refrain from giving knowledge of how the Tax Court functions when detailing tax treatments unless they are a licensed attorney, and preferably, licensed to practice before the U.S.

The promissory note outlines the loan terms.  

It is my understanding that there are plenty of people implementing this (BRRRR) strategy using financing on the original purchase (not buying all cash).The following hypothetical numbers outline my understanding of how this might work:Purchase Price (-20% below market): $80KMarket Value: $100KCash Down (25%): $20KLoan Amount: $60KRehab Needed (loaned): $10KAll In Cash: $20K  (down payment)Total Loans: $70K (purchase + rehab)Total Into Property: $30K (down payment + rehab)ARV: $130KRefi @ 70%LTV: $91K$60K pays off existing loan, $10K pays off rehab loan, $21K is your cash out plus maybe part of the refi closing costs, which covers your down payment.Sound about right?

Would you approach it differently than what I've outlined above.  

I’m trying to outline the (strictly) legal steps for an eviction.

A large building with a common hallway serving several units....you better have a pretty detailed and specific Dr. note on file outlining the health issue to the tenant.

I would also hand them our "Rent Past Due" letter which outlines what they need to do and the timeframe for doing so.