You can use the extra income to pay down debt, save for retirement, or invest in additional properties.Tax Benefits: There may be tax advantages to renting out a portion of your home, such as deductions for mortgage interest, property taxes, and depreciation.

You would then hold the loan on a 90-95% LTV product at 5% (Which is taxed at ordinary income).

It's why companies like ours exist - we are creatures of the tax code. 

You really need to find an accountant that loves tax strategy. 

I don't have any of my own experience yet, but from what I have read, it seems like the most strategic way to go is to buy a fixer upper for lower than market value and gain forced equity by fixing it up prior to renting it.

But it allows me to keep one bank account and file one tax return, while still spreading out over multiple entities. 

Your “overhead” costs to buy & sell the house + holding costs, interest, property taxes etc, luckily these can be pretty easily calculated, many websites like closing companies will have websites where you can fill out information about a property and it will tell you the costs to buy & sell, loan costs are easily calculable, take your purchase multiply by intrest rate divide by 12, that’s your monthly expenses multiply by the number of months you project the to complete, a good rule of thumb is even cosmetic can easily be 6 months anything more complicated can be 9-12 though all that can very greatly.3.

@Michael CampbellCounty tax office records or recorders officeIf it’s bank owned you will have to wait until their asset management company (3rd party) lists it for sale or attempts to auction it off on a site like auction.com etc

If the OP didn't get a survey prior to closing, I suspect there may be an exception to coverage for any matter which would be disclosed by an accurate survey.

Down payment would still be $60,000.Of course if buyer defaults on the loan I would still foreclose, and I would require home insurance/property tax in escrow like the banks do.Do you think this would work?