If so then folks could sell real estate, book profits based on the value of the Gold, but log a transaction that was technically a loss (tax write off) based on the face value of the legal tender.

Operating through an LLC can certainly provide some protection, but many mortgage companies include a "due on sale" clause in their contracts, which means transferring the property could technically trigger the need to pay off the mortgage. 

You have to understand the two different product offerings and business models.With your background as a contractor, I would also do Contractor bays.If your just yanking our chains, then you got me.

Best,Julie Muse So in the case where im in for 150K on initial investment + renovations and I pull out the 75% value to give me 150K and use that to pay off the initial investment + Renovations im technically break even in that case, but my real profit is the 50K equity left on the property?

I would prefer not to be a landlord, especially since I live 2 hrs away in NY, but it is technically doable.

A few bits about me for background...

PR is technically part of the US, as a territory, but it doesn't show up on any of your tools for finding lenders, real estate agents, etc...

@Jim Doyle- thanks   1) consider increasing the purchase price by the amount of the elec and roof  work that needs to be done  and then assist  seller with  getting the work  scheduled and completed  ( as this will be required to be donw before closing ) ..this way the  seller  is technically  paying for the  repairs  and they wont lose  any  proceeds ....they will pay a little  extra  wa state sale excise tax  but  that  wont amount to too much  2)  consider  putting less down  and using some of your funds to pay for  the repairs  ( or part of the repairs )   3)  consider using a rehab loan  4)  consider  keeping the price  where it is and asking for the sellers to complete  repairs  (  this likely wont happen)  5)  get roofer and contractor  estimates and get them  lined up to do the work asap  as it might takes  weeks to get this scheduled / done  6)  ask seller for  extension on closing date if the  work  will take  longer than 10 days ,,,Good luck

A little bit of background, I own and manage several hundred doors in the Metro Detroit area and have been active in the investing community since 2003. 

Once you have some prospective residents it's important to do your due diligence with screening using background checks,income verification, and credit reports.