I am new here in Bigger Pockets and I purchased a rental property in San Antonio, Texas back in 2019 with little knowledge back then, in real estate.

On the other hand, if you can get a higher return on your investment property than the 7% you have on the mortgage or the mortgage interest rate on the investment property, then your money will be working harder for you in the investment property than paying off your primary residence.The choice is personal and unique to you.

He took depreciation on the prop, claimed the kids I’ve had primary custody of, and likely pocketed the returns.I am in the process of trying to engage a communicative/experienced accountant to assist in cleaning this mess up asap and fortunately our amazing bookkeeper of approx 8 years is very knowledgeable and responsive.

And I have been a PML business owner for a decade so it was an easy choice/chance for us to take and had access to funds to pay it off when rates jumped and our interest earnings was negligence compared to the risk. 

For your rinse and repeat househack plans, discuss this with a knowledgeable lender.

Can anyone with knowledge of bonus depreciation weigh in on a scenario I’m piecing together?

Since it's not a tax lien sale, but a deed sale, we are ultimately looking to acquire the property anyway.One thing that I do need-  a good RE attorney with knowledge of Deed sales in PA, hopefully Montgomery County. 

Their responses are articulated well, on point, appears to be from a person that has knowledge of their program, and are not point and click pre scripted responses.

It really does offer some great opportunities, especially with all the recent investments in Columbus—Intel, Google, Amazon, and Meta are making a huge impact.Cleveland’s also a solid choice for cash flow, with its ongoing revitalization and diverse property options.

Your irresistible offer appears to not have turned out so well either by your own admission and my advice is to help you and others reading this about the importance of knowing how and what to have in your contracts, how to properly vet buyers BEFORE you bring them a deal, etc. your situation is a great learning lesson for others and for yourself if you are willing to learn from your own mistakes.As to the assignment being legal or not, I am not 100% knowledgeable on NC laws, however, I have had several experienced investors tell me North C has similar laws regarding this process as does CA, FL, etc.