Though I am unsure how I would amortize the up front remodeling costs for P&L, tax accounting.2) Interest only loans term loans -  Would allow current owner to have cash flow on the property, without eroding the asset value. 

Finally in the mix we had Covid, which pushed a lot of people out of big cities up to our beautiful area with lakes, rivers, mountains, etc. and housing inventory is crushed! 

My mistake for not inspecting the property beforehand. Paid 12800.based on google mapsThe property is a mess. Need to clean the junk out of house .. hoarder . Bathroom and kitchen need redone. Large tree in back is de...

Finally the pro formas that they provide are absurdly basic and neglect at least 25% expenses, so are essentially useless. 

Comps, vrbo/airbnb and finally pinterest is your friend.

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

., I left Anderson for a small firm that will do the actual taxes and then another company that specializes in tax strategy. 

Do you know if that could work the same with something purchased at a tax auction?

Often times you will pay much more in taxes than if you pulled the money out, paid the taxes and penalty and then started investing in real estate.For example, with the financing you mentioned, the IRA must pay taxes on the portion of the profit earned by financing. 

@JD Martin taxes and insurance are not debt.