Second, working with a local real estate professional who has experience and expertise in the Phoenix market can be helpful in navigating the current market conditions. 

We walked with about $55k of tax free cash on a $147k house with $55k renovation budget.

@Daniel MadhavapallilYou should hire a tax professional. 

This is what the assessed tax value will reset to after you purchase.  

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

.: New to REI & BP, and debating my first move.My Background:30, single, no kids, no property, high income, fully remote worker$300K to allocate toward real estate (+ $100K/year after tax)Currently renting in NYC but planning to move back to LA (hometown) in summer 2025 or the following yearTired of paying rent and want to start building equityMy Dilemma:1️⃣ House Hack in NYC – Stay a couple more years here, buy a small multi-family now and offset costs with rental income.

Additionally, as a co-owner, he would directly benefit from any appreciation, tax deductions, and profits from the property.On the downside, being on the loan could impact his credit score, especially if there are any missed payments or financial issues.

You will have to pay all the usual expenses associated with buying a property: transfer taxes, government fees, title company/attorney costs, as well as a "hammer fee" which goes to the auction house.In theory yes, you could win something for a few thousand dollars.

From there, it's easy enough to look up the tax rate for corporations and make your tax burden assumption.

For your sake I would make sure, if you aren't NNN right now, that you at least have RE taxes protection in your lease.