Our team’s expertise in evaluating similar homes ensured the seller agreed on a fair price, making this a seamless acquisition for Partner Driven and our partner, Billy Medlen.

Consulting a tax professional is key to ensuring compliance and maximizing benefits.

Cross border taxation is very complicated, most developed countries like the US and Canada have sophisticated systems to ensure their residents pay taxes, and you are not likely to be able to achieve your goal of not paying Canadian taxes on Florida income while a Canadian resident. 

The trustee, borrower or bank can ensure you get your hand slapped hard for approaching the circumstance as a work-out or foreclosure fix it guy without a license or being an attorney.Let's say that we can approach the owner and be in compliance, which you can.You will not purchase a note as an individual investor from a bank that has started foreclosure by making an offer like that.You get a request from the borrower for the bank to sell the note in lieu of payoff as demanded.

I do this to ensure they understand the cleanliness and cooperation is key to this model working for them and myself.

@Maria JeanetteTax Advantages: Income and gains grow tax-deferred (or tax-free if using a Roth SDIRA).All Costs Through the IRA: Expenses (repairs, taxes, etc.) must be paid from the IRA, so ensure it’s well-funded.You might also want to consult a CPA or attorney experienced with SDIRAs to ensure compliance with IRS rules and maximize benefits.Best of luck!

This treatment ensures accurate financial and tax reporting, as the credit is part of the sale transaction rather than income.This post does not create a CPA-Client relationship.

However, it's essential to ensure that the property's condition aligns with your investment goals and that you have a clear plan for any necessary renovations.Fix & Flip :Freddie Mac properties can also be suitable for fix-and-flip investments.

Quote from @Michael Wentzel: Talk to your agent to ensure they're OK with it.

It’s crucial to negotiate terms that benefit both parties, involve a trusted attorney and title company, and conduct thorough inspections and market research to ensure a solid deal.Good luck!