The city is still getting property taxes. 

This could make the sale more appealing by solving a logistical challenge for the landlord.Things to Keep in MindUnderwrite Conservatively: Make sure you account for all costs, including property taxes, maintenance, and potential repairs.

For tax purposes, you really just need to have everything aligned to the schedule E categories. 

DSCR lenders are much more flexible with income requirements and don’t require W-2s or tax returns.I’d be happy to connect and chat more if you’re interested!

Another option is investing in real estate through partnerships or fractional ownership, focusing on properties that yield cash flow or appreciation potential.For long-term growth, consider diversifying into assets such as private equity, tax liens, or even certain types of real estate that offer both capital appreciation and income potential over time.

401K loan is capped at 50K and with withdrawal, you have 10% penalty and tax implications.

However , properties taxes are due like roughly 12k for the two lots. 

I know I'm getting the tax benefits of depreciation, the minimal positive cashflow, and the appreciation on the property, but It's pretty much a long term play of slowly raising rents annually to increase cashflow, which will eventually get basically reset when my loan goes P+I in 10 years.

Without an ITIN/SSN, I'd be worried about running into KYC/AML violations, fed tax liens, the borrower being deported, lien enforcement, etc.

And you would get to indefinitely defer all tax on the gain from the sale.