.• Expenses: Estimate operating expenses including property taxes, insurance, utilities, maintenance, vacancies, and property management fees.• Financing: Explore options like FHA loans, conventional loans, or portfolio loans.• Cash Flow Analysis: Use a tool or spreadsheet to calculate projected cash flow.Based on your estimate of $300 per month in cash flow, make sure to verify that this aligns with your financial goals and risk tolerance.

If you have self employment or gig jobs you need 2022 and 2023 IRS taxes filed and all the pages/1099/w-2/LLC/Corp/personal and 2024 income.

Monthly rent + rate increase + probably getting a clearer picture of taxes/insurance would be my guess for that.So I wouldn't completely blame whoever you were working with on that, but if it were my client I would have tried to get a clearer picture of that going into it and either treat it like a 'vacant' or go off of market rents (assuming they are closer to $1200).Good luck!

If its a tax deed foreclosure that may be different as typically in most states you would have to go throught quiet title. but if its a mortgage foreclosure you should be able to get title insurance.

Taxes are also always going to be a consideration, and this is an assessment year, so you should account for them going up more than usual in your projections.  

The property is being sold as raw land below its tax-assessed value.

Did you know that the tax code offers many incentives for real estate property owners that have a cost segregation study performed, thus allocating costs to 1245 property?

Typically, it just refers to the number of units/leases you have, not the number of tax parcels. 

There has been no tax benefits per se.  

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.