So if he were to rent it out wouldn’t that show up on his taxes and say if the bank finds out and is okay with what would he do with it on the tax side of things would he report it as soon as it it’s in service or what would he do for tax purposes.

Flipping is just using a banks money instead of a customers money for us. 

The family purchased a lakefront property in a nice area three years ago but then ran into a series of issues, and have abandoned the place because of them.They are hoping the bank allows a short sale (asking for roughly $20,000 under what is owed)Here's what's made them so unhappy:Anytime they used the laundry it was dumping into a dry well, which would back up into the house forcing them to take their laundry to a laundromat instead!!

Will bank credit still be around (at what terms)?

I understand it is linked to a bank but was having trouble discerning how it imports outside transactions not from the partner bank. 

We also have a bank account at a smaller Chicago community bank, but there technology isn't as good to be honest.I think @Jonathan Greene's main point is don't step over dollars to pick up pennies. 

This can be especially appealing for those who enjoy traveling or seeking occasional getaways.

Each one of those things can make or break an approval and the end goal of cash flow.Feel free to reach out I enjoy helping and those states are where I focus as well as my friends, family and my customers/investors.

It actually went to auction initially on the 8th but no bidders except the starting bid which I believe was the bank.

So I am less concerned with that one at least for the time.I enjoy researching many things and solving complicated problems, but figuring this out has not been one of them.