Best thing to do is get TI, as we have already been through.There may be something unique with FA, but title is transferred in estates all the time without being insured initially and later insurance is obtained.

India has some serious challenges.

I think this demonstrates the only reason one should work with realtors, is do they bring anything unique to the table?

If you are holding less than a year you would get hit with short term gains.If you hold for a years time you would get hit with long term capital gains.If you defer the gains with a 1031 after holding a year and selling to the city then you will not pay anything if done correctly.While there is no rule on 1031's case law and 1031 companies site 1 year as being safe to do a 1031.Anything less than that and the IRS has been challenging you are holding for resale purposes and not investment purposes.Simply have the city purchase after your 1st year of ownership is up if you want to avoid the gains taxes and do a 1031.

Watch them challenge the foreclosure, claim you sold them the house above market value, and go after that down payment.

All those lazy retirees, students, single moms and all those sick or handicaped/physically challenged people, where di they come from and why are they even here?

I want to learn as much as I can from this experience as it can provided insights for the future, and considering each experience is unique and that I am in for the long term, the more I know, the more I can minimize my risks.I have declined a couple who wanted to rent one of my two properties.

Your local office may be well be within their rights to change a tenant's voucher to the minimum number of BDRs regardless of gender or age....because the living room will always count as an extra sleeping space.I can only imagine the challenges for case workers that have to change vouchers to the minimum number of bedrooms.

These types of folks tend to be educated, high income earners and will likely use the place to entertain.However, 7 bedrooms in a low income area can be a challenge.

Challenge him to be very specific and don't let him off easy when he says "I just want a deal that makes sense and money."