The guy should be in jail in my mind, but even with the market and all the other problems that have come up, they could have been straight with everyone. 

We haven't event gotten our minds wrapped around cost segregation and depreciation, and our current CPA doesn’t seem to have a handle on these concepts either … 

@Mark S.Never mind on my question.  

There are mortgage recast calculators online or you can reach out to your lender.P+I payment will go from 2155 to ~1800 given the numbers you provided.

Have proof on hand (easy enough to find) online of the missed tax payments and any documentation that supports that he specifically didn't pay his taxes.Probably a simply mistake on his part, but now if he wants to develop on it, he either has to land lease it from you or buy it back.I'm not sure how the whole tax deed thing works, so that would be something you have to figure out between the two of you.

Even in those cases, it’s difficult to create a significant gap between the purchase price, rehab costs, and ARV (After Repair Value).Investing in today’s market is incredibly challenging, and I’ve found that the BRRRR strategy is one of the least effective approaches right now.Let’s keep in mind that BRRRR gained popularity before 2020.

If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Awesome to see a new investor-minded person here.. do you have a favorite real estate success story already?

Keep the other factors in mind besides just the cashflow and equity appreciation calculation.

Keep in mind my comments were given with only knowing the details you provided in a post so I don't want to come across as a know it all.