It has reports out the wazoo and makes everything relatively easy come tax time. 

After talking to the loan officer, it sounds like there might be some reporting requirements related to when the money was drawn from the HELOCs (proof that the money was drawn and then wired to the Title company for the original purchase). 

View report*This link comes directly from our calculators, based on information input by the member who posted.

There was no foreclosure, but I was paid directly from escrow.My question is how to report this transaction on my taxes - just now realizing this might have tipped me towards using a tax accountant this year but a bit late now!

Mostly lenders request current rent  in appraisal report to offset the DTI.

@Mario Gonzalez NJ has a couple things working against your plan, when it comes to finding off-market leads. 1. it's tough to get a  list to mail to because most of NJ combines single and multi-family homes when the report to the list compilers. 2. it's quite competitive.

The land, the permits, the plans, the inspection analysis reports from all agencies and a plethora of other entitlements that come with this venture.

For 2018 taxes, I plan to report this condo sale as an investment sold.

At first glance, I wouldn't think so, but maybe there is something when it comes to reporting that would have some pitfalls.

Please correct me if I got something wrong.The question I have is, is there a place to report the total cost basis for the property including land?