I look forward to working with and learning from members in the Bigger pockets community.As a homeowner, I have 30 years of experience fixing everything that breaks!

Since it is not earning much as a flip, my plan is to rent it for a few years, take the tax break, hope for some appreciation, then sell.  

Ive seen one bank require the repayment of closing costs if you sold the property within a certain timeframe, which Im guessing was their break even point with the higher rate.

Make sure there is no break in chain of title. 

We bought that house in 2006, so as you can imagine, we are still underwater where LTV is concerned and our monthly NET is at a break even point.  

I’m trying to break into the Real Estate Investment world. 

My thinking is that the bank will have someone there and won't let it go for less than their break-even point on this property.  

But I'm focused on expanding so I can present in the home, not just a body, as @Joshua Dorkin said on the podcast.

At some point in the future, if the appliances need to be replaced, you can find used (1 to 2 years old) updated SS appliances that can enhance the look of the kitchen that will not break the bank.

If it is a sheriff or trustee sale you are breaking the law by simply agreeing not to bid.