David J Dachtera"Success is not a destination.

Since your question seems to be tailored to vacation rentals, I would look up what the most popular vacation destinations are and the demographics of who is most likely to rent a vacation home in that destination.    

Utility liens and such may stay with the property, depending on local customs and law.Your title agent (I'm not one) will be a good friend in this pursuit.David J Dachtera"Success is not a destination.

Entrepreneurs need to be able to act quickly and not back-track, which sounds like it would be out of character for you right now.Just a suggestion...David J Dachtera"Success is not a destination.

Otherwise, you're deferring write offs until your business has income against which to write-off the expenses.Talk to your financial professional (I'm not one).David J Dachtera"Success is not a destination.

Still have some living relatives up that way.David J Dachtera"Success is not a destination.

You care about recent comparable sales, if any, but you also care about cap rates and income.My $0.02...David J Dachtera"Success is not a destination.

Only the surplus - if any - could be taxable, depending.Contact your tax professional (I'm not one) for a complete explanation.David J Dachtera"Success is not a destination.

There's no excuse for ignorance, though.I also have some pet causes among the local schools and such to which I wish to donate from that pot, not to mention animal rescue, veteran's housing and senior care (since I'm 61 now).David J Dachtera"Success is not a destination.

Again, ask your financial professional (I'm not one).One of the leaders in my investment group went that route to acquire a bundle of 49 REO properties in one business venture and some 70 or so more in another.David J Dachtera"Success is not a destination.