Have your tax advisor walk you through the rules, craft a strategy and ensure you’re doing it correctly.

Happy to walk you through the market details here if you want to send me a message or reach out. 

They pretty much take you by the hand and walk you through the deal.

If you don't know what the repairs will be or how to figure them, get a couple of contractors to come walk through the property with you and give you estimates until you learn how to figure the repair amount for yourself.So the formula to use is this: ARV-35%-repairs= Your selling price(This will tell you how much to sell the property for to a cash buy/rehabber)ARV-35%-repairs-your profit= You maximum purchase price(This will tell you how much to buy the property for.

Under the lower level is a walk in basement with the furnace and oil tank.

7) How likely are they to walk if you say "no"So I think each one will be different.

I feel at this point I should mention that I do not use coercion to get my contract signed, nor do I actually walk into the house with it literally "in hand". 

Explain when your goals are and have them walk you through what it would look like and what's needed to get there and what the finances would look like. 

And as for the house --it's in Quincy--south of Boston --walking distance to public transportation --right in Quincy Center--there is a major development under way.Current Rents $39.3K a year (probably a bit low still)Taxes/Insurance $11K a yearWater Sewer $1200 a yearI've never had a vacancy in 10+ years but accounting for 5% vacancy this gets to NOI of $25.1K per YearAsking Price:  $630K.  

Based on all your inputs I'm definitely going to walk away but I appreciate everyone thoughts and advice.