Hey Gustavo, The double taxation issue will likely be experienced by someone in your situation without the proper tax professional involved.

Given that this deal was unique due to the inheritance, there wasn’t a traditional negotiation process involved.

I don't know how we fix crime and schools without getting the Goobermint involved, which rarely works....Unless we gave tax breaks and incentives to builders and investors like us that would encourage us to take bigger chances and go develop some of these down-and-out areas......it's worked before.... 

It would save about $230/month and involves about 5k in closing costs and fees.

The only difference is that there might be an explainable rationale for holding on to a property, such as a well-founded belief that equity gains are coming (such as owning a house in a rapidly growing area or property where the next commercial boom is headed), whereas with gambling your odds never change regardless of your losses.

We do have a servicer.I finally had a conversation with my JV and said just foreclose since the borrower would not return calls, emails, any form of contact.Borrower did response when a DIL was presented (oddly enough) and agreed to a DIL but has yet to sign the papers.

Hi, My name is Dorien, I am an experienced investor involved in wholesaling, to include all types of real estate development.  

For the better part of two decades I've been involved in real estate in some capacity including but not limited to: mortgage & real estate broker, developer, project manager, STR owner/operator/manager, international investor and beyond. 

I wanted to have the same title company for the entire process and was fortunate to find ETS as they would know from the beginning everything about the exchange and the parties involved and were licensed in both states where the sale and purchase transactions occurred.My initial conversations with Dave still left me with questions but only those that I did not know what to ask having not gotten to the different phases of this entire process.

Lindsey, you’re right there is a lot involved with house hacking out of state and I’ll be circling back to that particular method in the near future.