You risk harming a homeowner, wasting the time of professionals, and possibly hurting yourself if you mess around on a transaction that is subject to foreclosure rescue/consulting laws without knowing what you are doing.Go buy an open market home using government financing and down payment assistance.

Further, you avoid the potential of forgetting to refill it while tenants are away, having a single pipe freeze, and footing the bill for hydronic heat system busting open, flooding/ freezing the building (a not uncommon occurence). 

They tentatively scheduled one for a month later but said they were uncertain if it would even occur.

There are nexus rules and the tax laws such to effectuate a double tax on the same dollar of income to not occur.

You did not calculate the insurance, taxes, vacancy rate, maintenance and any other ancillary  expenses which may occur.  

Our intention is to immediately refi out of hard money (expecting to occur in November) and purchase the next rental.  

Remember, the sale of the relinquished property HAS occurred TODAY and the 1031 Exchange must be completed upfront. 

AC techs are pretty slammed, especially down south so it’s not surprising that occurred.

The property is in a great location with lots of development occurring nearby.

Purchase price: $195,000 Cash invested: $5,000 Historical house that underwent a complete gut job, new plumbing, electric, hvac, drywall, roof, insulation, after a fire that occurred at the property in 2019. acquisition also included a buildable lot in the back.