Their 10% cap rate valuation was even less than the town’s market appraisal to determine property taxes.

i would be purchasing the property with an FHA loan. and im also looking for solid cashflow + long term holding I think house hacking is great way to get started, especially here in SC so you can take advantage of the lower tax rate.

I pulled a list of tax delinquent properties in my area.

The additional costs for commissions and costs are negligible in the bigger picture and if you are looking at capital gains tax it's a deductible sales expense which more than offsets the additional costs.

We were allowed in one of the three units prior to being under contract. 

A couple years ago the IRS asked for her 1979 taxes and she didn’t have them to prove them.

I have a couple questions in regards to setting up the proper entity as well as taxes. 1.

Remember also that the interest on the loan is taxed at ordinary income rates.So for example lets say you have 100k and were making 8% in the markets - 8k per year and say you are in top bracket, you will pay $1600 in taxes per year or netting 6400.Now lets say you did a loan and were at 5% you are earning $5k per year (actually less because principal is being paid down and some of money goes into essentially a 0% checking account).

They are not as active / robust as they were prior to COVID but there are still a number of people getting together.John

I can come up with 10k cash (willing to pull from my after-tax contributions to my Roth IRA) and I can take about another $50K from a backdoor IRA rollover from my prior employer's 401(k), but I'd rather not do that.