Hi All,I signed a promissory note secured by a single family home that a real estate investor intended to flip.

None of the methods you purposed are bad, just gotta commit and run it for 5-10 years at a time.

Just a different method. 

Given that the house is paid off but has $27K in back taxes, you could offer to cover those taxes upfront in exchange for favorable terms on the remaining balance—like low (or no) down payment, and small monthly payments.You could also negotiate for a subject-to deal where you take over the property subject to the taxes, while still securing control of the property for your BRRRR strategy.

In addition, I do want to get some type of temporary security camera for the property while doing some minor rehab fixes, Are there any suggestions for temporary security cameras?

That said, the IRS allows "any reasonable method" of allocation which of course includes FMV.

I have a 9-5 that I want out of but want to secure at least my first property prior to leaving it.

Changing the method of deduction might slightly alter your taxable income, leading to a small increase in taxes.Bottom Line: The slight increase in taxes could be due to how different deductions interact with your overall tax situation, even if the total deduction amount remains the same.2.Is It Worth Amending Previous Years’ Taxes to Change Purchases from Depreciation to Expenses to Avoid Future Depreciation Recapture?

Reaching out to all you note/CFD veterans again.It's my understanding that in certain states, for delinquent/non-performing CFD's, you must go through a standard foreclosure process (once all other methods like forbearance and modification have been exhausted).

Each loan type will also have a number of fees that you will need topay to secure the funding (eg. you will be paying the broker for commercial,whereas the lender pays the broker in residential financing).My best recommendation is to talk with alocal commercial mortgage broker specializing inmultifamily lending.