My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance.

So the question becomes based on their individual and personal tax situation what is the estimated tax burden they'd save? 

Lives and life savings have been stolen.  

If transferring the property to an LLC, be mindful of the due-on-sale clause, and note that an LLC itself does not offer tax savings unless electing S-Corp status, which is rare for rentals.To maximize tax benefits, consider cost segregation, bonus depreciation, and short-term rental (STR) strategies, which could allow you to offset W-2 income if structured properly.

We have some of those calculators we plan to to add in 2025 for those who want it all-in-one.

By understanding the costs you may encounter upfront, you can take control of the process.Here are just a few things experts say you should be thinking about as you plan ahead.1.

Make sure to run your numbers conservatively and based on the current as is value if you plan to go this route. 

Unfortunately, Covid decided to change my plans, and I made the decision to hold off, in hindsight it was a huge mistake and no one could have imagined that property values could have increased at such a high rate.

It's a 3 bedroom house and we plan to use technology such as a smart lock, WIFI exterior cameras, and a smart thermostat.

You can save a lot on costs if you do many repairs yourself.Look into hard money lenders or private lenders for the initial purchase and rehab.Connect with wholesalers, agents specializing in investment properties, and other BRRRR investors to find deals and learn more.