All buildings close to the beach requires piling on the first floor then you can either add 2nd or 3rd floor depending on your business plan.You can reachout to real estate agents that are predominant in the area to provide you with short rentals income report.Let me know if you need any help or info about building ground up.

I suspect there is something about the current deed that concerns the insurer which is probably why they're requiring the affidavit. 

Make sure to have compliance with loan requirements and have a plan for managing the property while away.Good luck!

That makes sense - these successful GPs/Operators are often only looking for institutional investors / QPs because they don't want the hassle of smaller checks.I've probably looked at dozens of deals so far and came close to investing in one that required a larger check.

Purchase was $188k and has been depreciated for 12 years to date.The online Capital Gains calculators show an outright sale losing over 30% to capital gains, depreciation recapture and the 3.8% Medicare tax (an extra stick in the eye).

I was recently informed that there are portfolio lenders that don't do a credit check, don't require an appraisal (possibly BPO), or tax returns, etc and are truly asset based.

@Ben Lin, The two part reinvestment requirement is that in order to defer all tax you must purchase at least as much as your net sale (contract price minus closing costs and commissions). 

As long as our tenant gives us the required 30 days notice, we will market our property, and within 2-3 days of turning on the marketing, we can have a qualified tenant ready to move in.  

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

Read through the court documents online and it doesn't appear that the owner on title attended any hearings or tried to stop the foreclosure.