@Eric Klug your cost basis is every dime you put into the property prior to placing it in service.

Or if the debt was more than current market value, especially in a state where they are allowed to still go after the foreclosed prior owners for the difference.  

@John UnderwoodYes, confirmed STR regulations prior to the offer

On the towns website, the prior owners name is still listed as the owner of the property but I’m almost certain the presence of a property vendor means the home is foreclosed.

In the due diligence period - my awesome agent & partner Corby not only handled the 1031 but got me a free brand new roof on an insurance claim from previous hail damage prior to closing.

My wife and I are doing just fine with only some potential visits to Wilmington prior to the move potentially being canceled.

Confirming that there are no restrictions that would hinder plans, prior to making an offer or at least before purchasing the property.2.

She qualifies on her own, but I’m worried that this separation may be a ruse because her husband may not meet the rental requirements (prior evictions/criminal background, etc) Perhaps it was just a slip of the tongue, but she referred to him as her husband several times during our conversation and it’s odd to me that they’d show up together if they are separating. 

It was flipped prior to me buying it and I just did a 25% down purchase turnkey rental which I'm now regretting.

Roof was replaced a year prior to our purchase so no need to replace.