This contract (as far as I understand, albeit I'm not an attorney) transfers the legal responsibility to the buyer, and then my answer on tax consequences stands: interest deduction belongs to the buyer.B.

Consequently,  there's rarely enough of a deviation in price between these auctions and what you can buy on the MLS/elsewhere with full diligence capabilities to make these transactions worthwhile. 

Generally larger commercial properties and shopping centers are easier to classify with hard and fast rules, but to the points above the residential areas really move very quickly and have way more nuance than most people care to admit.zip codes are generally way too large for my liking at least in my market to provide any kind of insights other than macro level economics but even then highways or rivers that cut through a zip code can end up with totally different trade areas.we can get pretty granular with cellphone data and with grocery center data to understand the trade areas and their true boundaries, but that kind of data pull is generally only cost effective for investors doing larger scale projects or developments, and honestly we still just end up getting on the ground and feeling it out, so I generally tell people that the money is better spent on a plane ticket and weekend trip in the area you are looking rather than any kind of "trade area" level data studies.and generally B class in 1 area means something different than another. 

Consequently, I lost the purchase opportunity. 

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

My dilemma has been that I've gotten a little behind on some revolving debt that selling this property now could eliminate in addition to giving me cash on hand to trade into some better value or start a new construction duplex project I've been wanting to start.

@Christina Galdieri  A 1031 exchange is specifically designed for real property held for productive use in a trade or business or for investment.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

I knew I was adequately insured and had zero risk of financial consequences.