For an initial review would you suggest to simply use the 50% rule and only if the initial metrics pass would you due further due diligence such as request as expense breakdown from the seller?  

We are working with the closing's title company - they are reputable and we have an open line of communication with them, and the listing agent, seller's lawyer, and the reputable title company have told us it's clear there are no liens - to make sure we are sufficiently insured in the title insurance, to make sure the title policy has coverage without any of the liens exceptions listed on auction.com:"Most liens are removed after a foreclosure property sale, but certain liens may remain.Here are some examples:Any lien recorded on title prior in time to the foreclosing mortgage.First Mortgage (if the foreclosing mortgage is a second or third mortgage)HOA or COA assessment liens (in certain states)Mechanic’s Liens (in some states)Government liens such as state and federal tax liens, city or county liens, US Government liens.IRS liens (IRS may buy the property within 120 days after sale at the price paid at foreclosure sale)Code Enforcement Liens, Environmental Liens, and Utility LiensChild Support Liens"Is this the right approach for bank-owned?

Monthly Cash flow: $110.51COC ROI: 9.86%2% Rule; 0.74%I would need to find a partner on this deal to cover the additional capital I do not have.

In general I agree that you shouldn't take a essentially risky investment and make it just for the tax benefits but some of these opportunities zones are in up-and-coming areas where you might want to invest anyway and if you're trying to decide between investing in an area that's up and coming in in an opportunity Zone and one that's up and coming and not in an opportunity Zone it would be crazy not to choose the one that's in the opportunity Zone particularly if you have some capital gains that you want to defer. the major benefit of opportunities on is that you can take capital gains from any investment class capital gains from a stock sale for example and use them to buy a business or real estate in an opportunity Zone provided you follow the rules and put it into an opportunity Zone fund and all that and then you can defer those games for up to 10 years but even more important part is if you do defer them for 10 years any games that you gained from the investment in the opportunity zone are 100% tax free.

The thumb rules are a good place to start, but they never tell the entire story.

I live in Minnesota, and garages play a huge factor in property values (many buyers completely rule out homes without them).

I also do all of my own bookkeeping, so the accountant really just compiles everything, makes sure the appropriate rules are followed, etc.

You'll have to take into account what the park's income can support and is feasible with your management plan.

After thinking a lot about it we have decided that once we are done with the rehabs, we will see about renting it, if we can get a good rate that supports keeping it, if that's not the case, then after a year renting sell it and count it as investment that has more favorable taxes, and we probably would reinvest the capital gain right away in another.As for my previous house that I sold in 2013, that was my own home, lived in it 3 years, and when I sold it I used most of the profits to buy my current home, so I can't remember now my tax filling for that year, but I think I didn't have to pay any taxes or very little for that.

Do taxes for new construction in regards to 1031 exchanges and the 2 year rule, start when the home is completed or when you purchase the lot and begin construction?