(So therefore we wouldn’t have to pass on the cost of the repair to him ie. the tenant).Now, several months later, I contacted the contractor to ask if he would be to provide a price estimate for a different job at our house.

I am in one of the higher tax brackets and could be saving around 40k~ a year on taxes with this.

Might be a diamond on the rough if you can fix it up and then long-term rent.

So the first seller agrees to direct title to holds the funds and when you close on that purchase you record a new note for the first seller on the second home.

First time on this forum, and just introduced through two books I just read by David Greene and Brandon Turner.  

Maybe one the contributors on BP will see your message and start something like that.  

The biggest thing with this is if something major happens are you legally covered if the unit is illegally rented. 

And as you can read here on BP this is probably the number one recipe for financial failure. 

I know that interest on the acquisition loan can be included in the cost basis since it’s inventory.

-- How many and which websites is it on overall?