Hennepin County, No. 22-166, Slip Op. at 14 (May 25, 2023) ruled property owners can reclaim any surplus equity resulting from a tax sale.

@Tove Fox hope you find this copy & paste useful:)-------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Zach Denny  Similar to what Minna posted above, I have done with a local portfolio lender bank where they set their own lending rules. 

The 1% rule is an old metric.

Quote from @James Hampton: That's a bad practice to follow.If an occupant is not named on the lease, you may have difficulty enforcing rules or evicting them.

When it comes to housing, the FHA rules apply in addition to those of your state/city.

You are taking over for someone who didn't care at all about the rules and you want the city to just be like, "yeah, this is fine"?

There are a lot of good things about Wyoming LLCs, but the favorable Wyoming laws don't matter as much because the state you are in will apply the laws of the state the property is located in. 

My underwriting would have this large negative cash flow for 7 years.I would do a thorough underwriting but want to show using quick math the issue so I will use the 50% rule.  

This applies regardless of the type of deduction you choose to take for the vehicle.If section 179 doesn't work in your situation, there is bonus depreciation, which allows for a deduction of up to about $20k of the value of the vehicle for 2024.