$OUCH$Here are some photo: I can't go in side the "bag".  

Or should I open my eyes to the U.S. knowingly that the distance/tax implications/ etc... is a whole different bag of tricks for a seasoned investor let alone a new guy on the block.What do you guys think? 

You can either inspect the property to be lead free which would require eliminating everything that had lead paint on it (pretty much gutting the property) or you can test dust samples.

Brown bag your lunches.  

Dust the walls with microfiber, dip a sponge into homemade cleaning solution, wring it out and wash walls top to bottom.

At this point I'm hoping they get the hint and leave me alone.Funny thing is, when I mentioned this on reddit, all the $12 an hour people started attacking me for being successful, calling me a douche bag who is pretentious, and siding with the person that tried to insult me but just really insulted herself...lol.They don't even understand what pretentious is (pretending to be something you are not).

Easier bets are get a newer property - out of state - where property taxes are < 1 % , HOA below $50, no special city taxes, good schools and high median income of residents - if you want to obviously buy in class A neighborhoods and be a passive investor and bag a cash flow of $200-$300 per month with a chance of appreciation in next 5-10 years.

Or just waiting till the dust settles?

However since the capital gains rate is 15% and his income tax rate is probably above that, I do not see how that will help him, unless he is talking about you giving him a bag of cash at the closing, and you put his deprecated value of the property on the closing statement, then he has no gain on the sale and you have a low basis.I think you need to ask from him what he wants, does he want to finance the purchase for you?  

I do like the idea of a live-in-flip as I could have weekly projects to accomplish (which I enjoy), and I would be needing a place to stay regardless, as well as the fact that I have had a string of difficult roommates, and would not mind having my space be my own.I have read some threads with mixed reviews on live-in-flips regarding money lost, dust etc, and of course this is a numbers game, but being a tinkerer, I am intrigued by the process.