I’m sure I can count on you all to hold me accountable!

The deal is risky unless you know the market well, have experience executing this strategy, and have accounted for the quality of the asset and tenant. 

I agree, with turning the property over you have to make it ready, account for vacancy and go through the courts for an eviction, all of which will cost you.

You’re in a win win situation no matter what however I guess you would also want to take in account any major cap x repairs that might be coming up soon in the future you might want to avoid paying. 

Account Closed also invests in Louisville and is a wealth of knowledge.

Negotiating a lower price to account for these issues could be an option, but if they’re not flexible, it may be best to explore other opportunities.Happy to connect if you’d like to discuss further!

Bigger Pockets is a great place to find a tax accountant specializing in real estate taxation.

I wanted to solicit some background info before reaching out to my accountant and she advised similar to your comments. 

However, here are a few strategies to explore:Local Real Estate Investor Networks – Join local REI groups, meetups, or Facebook groups where private lenders may be open to funding primary residences under the right terms.Seller Financing – If the seller is open to it, you could negotiate a seller-financed deal where they act as the lender.Community Banks & Credit Unions – Smaller local banks may offer portfolio loans with flexible terms.Wealthy Individuals / Family Offices – High-net-worth individuals sometimes fund private deals, especially if they see strong equity and repayment potential.IRA or Self-Directed Retirement Accounts – Some investors lend money from their self-directed IRAs for real estate transactions.Since you’re willing to pay higher interest for a short-term solution, a contract for deed (land contract) might also be an option, where the seller keeps the title until you pay it off or refinance.Would you like me to connect you with any potential private lenders?

You need to create an account.