I have refinanced (rarely mind you as there are costs that take years to recoup on a refi) and am happy to see equity build as the mortgage shrinks.

Eviction headache and cost is something you definitely don't have to worry about with party #1, not to mention wear and tear.

I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

How do you handle challenges in a deal (unexpected costs, market shifts, etc.)?

* What is your average work order cost for the owner?

Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.

Sellers are offering incentives like paid closing costs, and with homes sitting longer on the market, buyers have more room to negotiate!

As for repairs on the purchase of a home prior to auction there are some professionals utilized by the professionals for costs to repair the home in best and worst case scenarios.

One of the big benefits of buying the whole thing on a fixed rate loan is that one of your major expenses is fixed for a long period of time, including the cost of the land. 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.