However, if it needs that much work you are probably better off going with a hard money loan and then doing a rate & term refi once rehabbed.

Paying off $100K on a loan of 6.75% is the same as investing $100K in an investment that returns a guaranteed 6.75%.

The sales price is contingent on the property appraising for the agreed-upon value in that given timeframe.The goal of subject to, for the buyer is to take advantage of your low interest rate, maximize profits to pocket as much cash flow as possible, and then, however, in many years be able to cash out refinance and pay your mortgage off in a lump sum to acquire full rights of the property.

I will need to self manage through VRBO/Airbnb in order to help classify the income as active income so that I might be able to right off the accelerated depreciation against W-2 income.- I have about 150K available for a down payment, any suggestions on the type of property to target (cabin, condo) if the goal is to be around cash flow even?

They found a way to profit off of tax sales much like other states have done.

Do any of the gurus here know of a decent builder that hasn’t switched to full rip-off pricing.

A lot of people put off getting into real estate because they don't have the money. 

Mainly because I can craft the mortgage a little more (no pre-payment penalties, lower down payment, etc.) and eliminate the fees charged by lenders and brokers.One of the benefits of purchasing a listed property is that the broker will normally set the seller's expectations a bit more than you just contacting them off the street.It comes down to what the seller really wants: a certain price, interest, down payment, or term.

Check out prospecting platforms like RedX, where you can call pre-foreclosures which is a good way to find off market deals.Other social media sites/groups, or simply network with local wholesalers online.Best of luck!

I want to branch off from being an employee to starting my own portfolio of residential managed properties.