I am using Turbo Tax Premier this year as I don't have a complicated tax return filing (couple of W2s, one K-1, small things here and there).

Thanks in advance,-Matt K

We're talking nearly 600+k home rents for 2,500ish mo.

Please let me know if you guys can find any fatal errors or deficiencies in my analysis.

If the bank account is with the same bank that foreclosed they may very well take it  -if not they may get a deficiency judgment and take the $35k plus fees.

Thanks for the input @Callum K.

So part of this is to get an attorney who regularly practices before the magistrate in that magisterial district where the property is located; that could help in determining what might be needed as proof.Let's see if we can get some attorneys to weigh in: @Chris K. and @Tom Gimer

The price is 150 k.

I am currently going through my options to buy my very first investment home - I was originally hoping to go the FHA route, multifamily home, "house hack" or live-in-flip - which would require me to go with the 203(k) option to force appreciate some equity, as well as, to gain some landlord experience and passive rental income. 

A 700 K property rented at $2900 is not a investment.