A debt forgiven is considered taxable income to the tenant . ( as far as writing it off for the landlord others may know )According to the IRS, if a debt is canceled, forgiven or discharged, you must include the canceled amount in your gross income and pay taxes on that income unless you qualify for an exclusion or exception.

We (except one heir) jointly pay taxes and liability insurance annually.

I found that banks do not want to lend, except with solid collateral so this is my preferred method to access money.

In fact, there were exceptionally hot market signals nationally in the sub 200k markets and sub 300k markets in many places in the US.It is important to watch the new construction numbers.

The only exception would be IF you had the funds to close the deal (after negotiating it down to a price thats profitable) and then you resold it once you owned it.

Those who have good jobs usually buy homes — I read a stat that 65% of people in Cody own a home.Maybe I'm a bit misled by stats, but I don't see — with the exception of the rare screaming deal — how a rental property could cash flow here, especially considering I wouldn't put more than 20% down on a place.

Also of course I know it does mean holding back more money for repairs (two of everything, except for roof etc).

If you aren’t an actual GC doing jobs, then your “licensed bid” is no better than any random persons price, except there is a trust they would have based on the license. 

The exception would be if they already have $20,000 deductibles, they still want to take on more risk, but they aren't quite ready to remove property coverage completely.  

The only real rule that stands in this case is the 1866 civil rights act which disallows denial based on race with no exceptions.