Many require that you keep funds separate from personal funds.

If you pay the loan off before selling or do a refi and have $1 of equity, it won’t affect your taxable gain. 2) if you stay 2 years you’ll have 14 years of personal use out of 22 years so 63.6% of the gain cane be exempted, up to $500k.

For me personally with the lessons I have learned - I would build capital before buying anything to hold / flip.

It sounds like this is their personal residence.

Hopefully they do or your personal insurance covers them.

I have a 2-person unit with a glass top dining table and it has worked well.

He knew the person selling this property and asked if we were interested.

In many instances putting bad money after good by furnishing homes for STR or MTR leasing or perhaps making their personal credit vulnerable by agreeing to Sub To arrangement.

A new person doing an OOS BRRRR right now is ripe for a loss.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.