Considering buying the corp so avoid land transfer tax - that might help with the numbers.

We now live in Arizona and I frequently fly back to the southeast to repair or inspect the properties and already deduct the travel, lodging, and half of the meal expenses from my taxes. 

Taking a break from working on our 2024 bookkeeping and taxes. 

The single biggest advantage of selling your homestead is that you can take all the Cap gain tax free if you have lived in the home as your homestead for 2 of the last 5 years. 

Do the tax benefits make it a good deal?

*Renovation Costs – Includes labor, materials, permits, and unexpected repairs*Holding Costs — Utilities, property taxes, and financing costs during the renovation time.

The seller may not want to do this, as many of these guys are benefiting from the tax deferral which comes with NOT moving title over.

For several reasons (property taxes, politics), I would prefer to begin real estate investing somewhere other than locally. 

Our team along with clients all are heavily investing in the area, and it is a strong place to start. close proximity to New York and New Jersey, paired with extremely affordable property/taxes and high rental demand make it on most people's radar.  

You are going to need to see their tax returns to see if they are telling the truth.And what is the interest rate that they are offering you?