Hi everyone,Any ideas and guidance welcomed.I bid on an REO being auctioned on a popular auction site.All of the processes seem to be running well until I received the lein search and found that there were code violations declaring the property uninhabitable.I believe that the issues found are repairable, but it will take a significant amount of money relative the the value of the property.Any suggestions on how to proceed?

I think I read that international real estate is one of the only assets the ownership of which doesn’t have to be declared to the IRS.

It's very difficult to say when and how you should declare the taxes for TPT, as everyones situation is different.

As a final matter the judge declared that, as the owner of the property, Daughter Occupant was entitled to all the “rents” kept in the Safe-Keeping-Bank-Account (by then $38,000). 24.

So I will first start off with the declaration that this is my first time being a part of a forum/community/board before!

Also, get an estoppel agreement from each tenant declaring that the rental agreement is the only agreement in place and that rents are what they are and security deposits are what they say they are, etc.

So to max out the deduction in low-cost areas  (below 250K) you can flip a house every year declaring you and your wife live separately and returning taxes separately.

Have you ever operated under a different name, declared bankruptcy, been sued or sued anyone before?

You would have to declare that amount as income on your tax return. 

The payments for the hloc will be factored in since for a conforming loan you will need to declare the source of funds.