Unlikely to find a GC though.

@Amy Konopka why aren't you setting up a call or meeting with your CPA to explain this to you?

I still made it work, but man, it was close.Has anyone else been blindsided by something in a deal like this?

To avoid pitfalls, research liens, check property conditions, and set a max bid before buying.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

or build to rent development as a strategy?

This is a great place to learn and to connect with people so take advantage of all the great resources.

Hey Kent, I think strategy matters a great deal as well.

It is interesting to see some properties go years and years without a foreclosure process. 

Hi David - I used HallCPA for a Consulting engagement (about $5k) and found the tax planning support to be very helpful.