I assume it wasn’t your primary home 2 of the last 5 years to avoid the taxes as you say you live out of state. 

That's why we have tax-payer-funded attorneys to take on cases for free.

Matthew,Yes, you would want to use those funds and do a 1031 exchange to avoid paying taxes on the cash or (boot) from the sale of the home. 

They used both of their credit histories and income to qualify for the financing so that's what the underwriting is based on.But you also have to look at the tax implications.

@Nicholas BetancourtYes, a separate bank and separate credit and debit cards will help with tracking income and expenses and will help with tax return preparation. 

Obviously you know to check the title......lots of these guys are selling tax deed junkers with title problems.

This does not include any tax prep.

And the taxes and insurance?

Here’s why:- unless you strategically reported your taxes as making 100% income and not reporting an entire loss on your schedule e - you will most likely not find a lender who will qualify you for a HELOC.

Stay motivated as you build your financial foundation and continue to learn.I tell clients to look at other people's successes so that they can see that flips are happening in their area.Here's a listing for a property that was sold for $155,000 back on December 18, 2023 and is now listed for $245,000https://www.redfin.com/AL/Huntsville/3916-Binderton-Pl-SW-35...Here is another one that sold for $210,000 on March 13, 2024 and is back on the market for $284,000In both of these listings you can go to the Sales and Tax History and see pictures from the previous listing.