This will eventually be recaptured when they sell so it's not a permanent deduction.

Obviously violent crimes like murder, assault, and robbery are more concerning than property crimes.

You are mostly correct In your concern .

Let's assume the big concern are the tax implications since the projected gain before the exclusion is $1.2M; see projected gain calculation below.

Again, if you are buying this as a foreclosure, then this would pertain but if this is a standard transaction and not from a formal foreclosure preceding then it should have no part of the contract.Here is the NC State Article concerning the sale of property (see page 15 in subsection .22).Here is also a link to the results page from searching "10 day upset clause" in google.

I'm not concerned about the 90 day holding period as I am more interested in rehabbing and renting.This particular property was just listed, but we'll see if they are willing to play ball.

But one other concern - isn't the 401K loan due immediately if you lose your employment?

One concern is there’s deferred maintenance on both.

Will give you a quick snapshot of the overall picture.So far as job inflow is concerned, in addition to Caterpillar, Geico and Raytheon @Ivan Dodic mentioned it was also recently announced that an Amazon Distribution Center is coming to Tucson.

My concern is that the attorney who is advising him is the same one who works with the shady investor...