In some instances it will happen, but not very often do the numbers work out for development purposes.

My Mom doesn't want the house anymore and told me that i can take it and work out a way to pay off the mortgage. 

They just don't seem to work out very often.

That being said, guys get hired all the time who have bad histories and some work out and some don't.

I would like to attend some of these but travel a lot for work so it doesn't usually work out for me.Make sure you take a close look at deals as good deals are hard to come by at this time. 

But without a couple folks to help evaluate a deal, it is incredibly easy to wind up with a property that doesn't break-even.We read about successes on here, but not often about the deals that DIDN'T work out. 

Also make it a month to month lease so if things dont work out you can end the lease quickly.

We just finished up a messy eviction and intense remodel, but it's back up and running now. 

I even considered exotic dancing, but alas I have a dad bod so that wouldn’t work out 😀Balance transfer credit cards at 0% for 12-15 months.

So if you are purchasing a house with land, you typically would try to allocate more of the price to the house, as you don't take depreciation on land.If your goal is maximum taxable writeoffs and you have a number of other properties, you may want to look into cost segregation (but it won't be worth it if you only have this property).Keep in mind that when you sell the property, you'll have to pay tax on the depreciation (usually a 25% rate).Be sure to chat with a CPA about allocating the purchase price in a sale, as you need to follow one of the multiple acceptable ways to allocate.Also, depending on how the rest of your portfolio looks and your timetable for holding, being less aggressive in allocating the purchase to high depreciation items may work out better.