It's treated as inventory similar to selling shoes i.e. no capital gain.

Essentially the same as a small business person who owns a shoe store.

I was in your same shoes just 4 years ago and would recommend finding a townhome/condo and house hacking with a roommate first.

You're doing exactly the right thing in starting with BP to learn a little more about other people in your shoes!

When i was renting out my SFR, i contacted 10. 8 responded. 6 were interested. 4 i liked. 2 had the pricing i was OK with. 1 got the job.Im too small time to deal with commercial property (Small time - too broke) If i was in your shoes, i'd contact every PM in town.

You didn't get debt buying the newest shoes,  the debt you acquire is needed to make your investment profitable and income producing, so it's not apples to apples.    

If you "redeeem," after making this side-purchase from the tax debtor, then you step into their shoes; if there is a large mortgage on the property, or other liens, those would not be cut off, and would still be owed against the property.  

If I were in your shoes I would wake up at 7am at the latest and go find a passion.

I want to make sure I tie my shoes tight and stand up real straight and be above water here — I want to do everything right.I've been presented with the possibility of financing this property by using a second home loan (10% down instead of 15-25%), and it's appealing to keep liquid.

This home showcases a luxurious master suite that opens out to the lanai, a large walk-in closet, a master bath that includes top-to-bottom travertine shower with a granite bench and double granite sinks.