A major housing shortage has driven up both property values and subsequent rents.

I plan to use BRRR approach or the equity on my current home to finance subsequent deals and slowly build a portfolio.

The husband should go through probate; takes 45 to 60 days, but an assignment and subsequent license to sell from the probate court solves your problem. 

The three subsequent posters understood and responded, so I am not sure why you are lost.

While some of the tax burden can be mitigated with the right business entity, for the most part, you can't afford getting hit hard by the tax-man when flipping houses.And, if this is your first flip, unless you're making an extremely large profit, there is pretty much nothing you can do to avoid any taxes on this property, regardless of what entity you had holding it.My recommendation would be to finish this one out in your name, and then consult with a CPA about setting up an entity for subsequent flips.

If you let them slide with late rent for one month they'll take advantage of you and assume they can do that every month. 5.

In aggregate one could argue the effects are positive (and for which it's likely on objective answer really exists - it kind of depends on your political and social philosophy), but at the micro level you get a lot of the winners and losers, and where your position as a winner or loser is dictated more by specific sets of circumstances rather than your "role" as say a property owner, landlord, tenant, forclosee, etc.If you're not paying your mortgage and you happened to have gotten it through Chase which securitized it and it's subsequently been resold multiple times and now no one can get to all the right paperwork to foreclose on you, you win!

There *is* loss on your end -- your time.And there is loss on his end -- his money.If the subsequent projects succeed, you recoup some of your loss (payment for your time) and he recoups some of his loss (profit on the subsequent jobs).In my other business I bill my work out at $400 a day.

You may be able to find a local bank lender that will do it, but they may be very puzzled by the $1 sale price in the chain of title and ask awkward questions.You could sell and potentially 1031 into a more expensive property to defer the tax liability, but it is generally advisable to hold the initial property for one year prior to selling to be comfortable that the IRS won't challenge your subsequent 1031 tax deferral treatment.

Now..I also slide in the back window to inspect the inside of the house.