My second option is no Fixer-uppers and just buy good condition house for rental investment.

In these situations we always give the current tenant the option of stay but you will need to have them reapply because they may not be qualified with the increase.

I would ask if they are looking for just private lenders or if they are open to hard money lending as wellIf the latter, I'd say: "Feel free to message me, I'm sure I can give you a few options" or something to that affect

As Lindsey mentioned a DSCR loan could be a great option to fund this property if it is for investment purposes only and you will not be occupying it!

Start by seeking mentors who can offer valuable insights and guidance.Remember, success in real estate often hinges on persistence, adaptability, and a positive attitude.

Hey Michael - we definitely have a lot of consensus here - based on the facts in Texas, I would agree with you that it sounds like the burdens and benefits of ownership (or at least a significant amount of them) are transferred as of the auction date, and based on what you stated, I would also feel comfortable taking the same position for a TX property - it would certainly not contradict the revenue ruling given the related restrictions on the property and taking possession are an entirely different fact pattern, making the ruling moot in your scenario.Which I think highlights even more one of my closing points (and your point as well on Jurisdictions) - this likely changes wildly by jurisdiction. 

Does anyone know of a direct lender who allows for seller credit that comes with a 2nd positioned lien?

What I’d like to accomplish is an upgrade in home (space, location, etc) without putting myself in a bad financial position.

We did carefully weigh our options and we determined this was the best one, despite knowing that we'd have to pay a small amount of capital gains tax.

The options considered included: Forbearance & Refinance – We considered providing the borrower with a forbearance to delay interest payments for six months while keeping the loan in good standing.