Warning:If you depreciate a property down near zero and then have to sell your property at a loss during a situation of distress...You could end up giving all the proceeds to the bank AND owe the IRS a big chunk of money for recapture.Long-term tax planning with real estate needs to be coupled with risk management and making sure you don't lose any properties.

Has anyone else come across a similar situation and/or does anyone have a good PI in the triad region of North Carolina they'd recommend? 

I think it is best for me in my situation to use an all cash offer, and I don't rent back to distressed sellers.  

Could you provide guidance on how to navigate this situation from both a tax and mortgage perspective so I won't have issues getting my next property?

I want to confirm that this is a temporary situation with the BOI.Previous injunctions have been overturned.

I have had similar situations with cats and guinea pigs. 

In such situations, the best way to proceed is to do your own searches and then contact the listing agents of the properties you're interested in.

Generally people in precarious financial situations are chronic not a one-off.

Purchase price: $1,150,000 Cash invested: $200,000 Sale price: $1,599,000This beautifully renovated single-story home features 4 spacious bedrooms and 2 modern bathrooms, situated on a 9,000+ sqft lot in a tranquil cul-de-sac.

There are multiple implications- so it's best to work with a qualified professional to figure out what best meets your specific situation without unexpected consequences.