We decided to market it as a 4 bed/1 bath with an office.Listing Price - $199,900Property Taxes - $2,230.13AssumptionsPurchase Price $230,000In this case I had seen similar properties selling for $225K - $250K so I felt the property was listed low to drive up interest.

They tend to avoid properties that need renovations.

You will have to pay all the usual expenses associated with buying a property: transfer taxes, government fees, title company/attorney costs, as well as a "hammer fee" which goes to the auction house.In theory yes, you could win something for a few thousand dollars.

I'm passionate about helping real estate investors maximize their tax savings through strategic depreciation.Cost segregation is a powerful financial strategy that allows property owners to accelerate depreciation deductions by identifying building components that can be depreciated over shorter timeframes.

. - What exactly is the red tape you are trying to avoid? 

Since my adjusted basis is about 50K, am I going to have a $250K gain on my income taxes this year?

@Drake BackmanBigger Pockets is a great place to find a tax strategist specializing in real estate taxation.A good real estate tax strategist can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding a tax  strategist specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your tax strategist remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year.

Connecting with experienced investors or joining local real estate groups can provide valuable insights and help you avoid costly mistakes.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Are you agent yourself and what makes you say that you'll avoid buying a home under 1000 sqaure feet again?