Take the cost of the home long term add the mortgage, taxes and true repair costs such as upkeep and new roofs , heating and cooling mechanicals etc over the years.

While I was/am not an inspector, I have good mechanical skills and construction fundamentals, so the walk thru was sufficient. 

Regarding "tax sale flipping," I think the mechanics of what you are describing would work, but I don't understand why an investor would buy the tax deed from you at a markup instead of buying it directly at the auction.  

As an investor, I take care with my flips to have all the majors covered (foundation/roof/mechanicals).

More often than not mechanics break down as a result of the house being foreclosed and not utilized for an extended period of time. 

Hey Amy, check out MAG Mechanical, and talk to Tom.  

Should I worry about a potential mechanical Lein on the property?

I assume major mechanical  updates.

Most people are not that dedicated and it shows.The passion I have left for this business is because it is a mechanism to fulfill "the great American dream" of upward mobility they used to teach in high school Civics.

I am waiting for insurance money to repair the fire damaged property.Can anyone suggest a way that a JV could be implemented in order for me to get:1) $350k upfront for my venture,2) get value for the insurance for the repairs3) after repairs sell the property pay off the mortgage and split the profit and give the investor about $200k for the $350k investment (plus repair cost)Just to want to know if there is a legal mechanism to do this.