Quote from @James Sills: I am looking at changing careers as soon as possible to something that can help my real estate investing aspirations.

This is great info!

Quote from @Greg Scott: If you are on cash accounting, yes you could do that.On the other hand, you are ignoring carry-forward losses. 

I've been reading more about subject to and here's what I've learned:-Good for sellers who are off market-Have low to no equity-Have a mortgage with a low interest rate (less than 5%)-Be absentee or out of state (vacant property, or have a tenant)The buyer would then take over the mortgage payments, and have the seller sign the deed over to the buyer.

Quote from @JD Martin: Quote from @Chris Magistrado: Your guys insights are very interesting.

I believe it's a great and thriving community with unique aspects that make it stand out from other markets in Texas. 

I am here to learn more about my own personal investments as well as seeking out learning opportunities from like-minded individuals.

I do want liquidity to invest elsewhere which is why I'd like the cash back from the reno ASAP, but I don't need liquidity equal to the value of the house--just the basement build-out, if possible.With option #3--how do you "cash out immediately"?

How did you finance this deal?

This extra road frontage now also qualifies my property to be able to be legally converted into a triplex from a duplex.