Just make sure that anything that earn for this settlement is not subject to tax and if it is - allocate properly. 

Just trying to gain a sense of hot or cold. 

Stocked kitchen, wifi, Hot tub, etc?

You have to realize that if we get another euphoria in the general markets(RE, equities, bonds, crypto, gold, etc.) then places with scarcity in RE will definitively be a pressing subject.

A few thoughts on the subject from someone who made a living doing this until the laws changed on the West Coast.Most folks in foreclosure go into deep denial.

Hard to produce cash flow or break even with that much debt, at that rate.House-hackers, however enjoy certain one time (non-scalable) advantages that should be taken advantage of in the early days: - They can assume pre-existing debt like VA and FHA Loans (rather than take it on Subject-To which is dramatically riskier).- They can rent by the room and self-manage to produce day 1 cash flow.- Many of these HCOL areas also have strict limitations on AirBnB or short-term rentals... that do not apply to owner-occupants - thus allowing for extreme cashflow potential for house-hackers.

I guess Air BnB is the newest hot topic.. nice southern gentlemen.. can't comment on his class or anything like that since I have not sat through it..

Yes, any cash you take out of a 1031 exchange that isn’t reinvested into a like-kind property is considered “boot” and is subject to capital gains tax.

If that isn't satisfactory speaking at a city counsel meeting about the subject would also seem appropriate. 

Tax-wise, profits are taxed at your ordinary income rate, and frequent flips may subject you to self-employment tax if classified as a dealer by the IRS.