The issue presented itself about 30 minutes before we were scheduled to sign and closed the sale yesterday, HUD showed up with a partial claim that I received during the COVID-19 pandemic which brought the closing amount to $289,000, thus putting everything upside down, no cash from the sale and I would owe money.

They commented that they were indeed interested in selling the park.

At the time, when presented with how did they want the deed, she wanted her husband on the deed too.

. 🙂 So many great comments here.

I just add the spreadsheet we use as a sample to see if this makes sense....Would love to hear your opinions on how much money are we making for everyone else, before we make 20kYour comment: "keeping the property for 90 days while we finish the rehab".

I agree with the other comments.

Always ensure an adult is home, or that you are going in without anyone present at all.

While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.There's this thing called Hierarchy of Tax Authority that CPAs and Tax Attorney's reference.Let's not get too carried away with comments like, It serves as a guide and cannot be used, cited, or relied upon as an authoritative source....

@Jesse Jones-Smithhi. i tend not to advise people on personal residence items because... it's too personal. so i'll just pick one thing you mentioned and provide a comment. 

Blue County = High taxes, pretty simple :)at $300 a month in taxes that’s a cash flow killer, you will need to go to the board next year and request an adjustment if possible, you may get granted but you will need to have a good report presented to the board with comps that are very similar to yours, but again it will be difficult because your property uncapped and it will never go back.