Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Plus if you’re investing in debt tied to Crypto or Broadway shows.

The house has appraised for $335k, my hard money note is for $242k, and I'm looking at only about $15k out once closing costs, taxes, and insurance are accounted for.

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

But the IRS has said that it is not appropriate to purchase from a related party when the purchase is an attempt to avoid tax. 

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

Taxes and requirements should be much lower for a LTR

A couple developers we work with skip LIHTC and the tax credits and go the route of impact funds to help alongside other debt and sometimes equity. 

I imagine the only way it would be possible is to do the bulk purchase in cash, sell off a couple and then put debt on them?

In concerns to those vacant lots, I wouldn't have any clue how to get that info besides accessing the county assessors office for some tax info about the owner.