Of course you have to meet the other requirements, timelines for identifying/completing the replacement property purchase, proper procedures with a QI, etc.Your conclusion about the mortgage above is incorrect.  

Either they didn't do the repairs at all, or the did substandard or completely incorrect repairs.  

But the quoted post is incorrect in stating that there is a one year redemption period for a Philadelphia tax sale.

I have not purchased any MF home so far but my research so far has produced the following pitfalls:I) incorrect rents a) the owner does not state the correct rent. he lists the rent he would like to get orb) He lists the ongoing rate for a SFR with the same number of rooms/baths - they are not comparable at all orc) the owner lists the correct rents but "forgets" to tell that those rents are based on a yearly contract with the first one or two months free.

According to my new CPA, which has extensive real estate experience, that's incorrect.

@Nephtalie Pierre, after further due diligence, I'm incorrect. 

Eg, if you buy for $100, you need to spend at least another $100 improving it.That is incorrect - If he invests into a QOZ, he would not be paying taxes on next year's return.

Please pardon me if this is posted in the incorrect forum area or if similar topic has already been discussed.My wife and I are looking to buy a home.

Junior Salters I did some more digging - I compared the sales price to those houses in my neighborhood on Zillow and the sales price were correct, however, there is a lot of incorrect sq ft, bath rooms etc.

Not only was the incorrect amount being deducted (no money was being added to my principal), but I was also unable to determine what was being deducted, when and why.