Originally posted by @Bernard H.

My original plan was to save up for a year and buy my first home.

Unlike a foreclosure, a deed in lieu of foreclosure does not extinguish any of the liens and encumbrances affecting the property.Most courts recognize the execution of a deed in lieu of foreclosure in a transaction subsequent to the original mortgage transaction as a legitimate alternative to foreclosure proceedings.

Like @Tom Wong I'm originally from Honolulu, and have been in Japan since '97.

The statement that 90% of all fortunes were originated with real estate2.

The refinance step is where you pull out this equity, typically in the form of a cash-out refinance.Here’s how it works:You refinance the property at its new appraised value (after rehab and renting).You take out a new loan based on that increased value, ideally for the full amount or more than what you originally paid for the property.The goal is to pull out enough money to cover the cost of the original purchase and rehab (or even more, depending on the property’s appreciation).This allows you to recover your initial investment, which can then be used to buy your next property.5.

This is more than enough to do PML's whether you originate or purchase from a broker is up to you.

These are 2-bedroom, 1-bathroom properties that I had originally planned to keep in my rental portfolio, but my plans changed.

Let me do my best to break it down into bite sized chunks.1) Your property tax increase is going to be 2% of the original assessed amount that breaks down to be .024% of the purchase price.

Some of these comps aren't in the same subdivision and the sqft for all of them are a lot less than the original property.