Recommend talking to your CPA about this strategy. 

Do this quickly because some counties have a time limit on when you can appeal.I recommend you research the market for:- Comparable Property Sales- Condition of your property, including anything that may affect your property's value- If you are really serious, an expert appraisal may be worth the effort.

I could see folks doing new builds if they have 1031 money they need to place somewhere and they are putting 30%+ down however.Way too much sunshine in this thread about the current market conditions here in Huntsville and Madison right now. 

Based on this strategy, it would only take about 2.5 years to pay off the $160K.

This forum is pretty open and people often share their knowledge and best practices, hence don't hesitate to ask any questions you want :) Good luck with your business!

This community is a fantastic place to collaborate and explore new ideas together.Looking forward to engaging with you!

Yes, this strategy is possible!

To avoid pitfalls, research liens, check property conditions, and set a max bid before buying.

One of the reasons I joined BP this month is to participate in a weekly connect just like this, as I know how powerful they can be. 

This is the case in a few states.