You could assume their loan but this depends on what they still owe.

They said it may or may not work depending on which assessor oversees our case.  

From what we have seen Point Pleasant Beach does pretty well, although the market is tough right now, so it really depends on what your goals are.

Each strategy has its own set of benefits and drawbacks, as well as potential returns and risks.Buying to Flip for Quick ProfitBenefits:Quick Returns: Flipping properties can potentially yield quick profits, especially in a hot real estate market.Minimal Holding Costs: Since the goal is to sell the property quickly, holding costs such as property taxes and maintenance expenses are minimized.Creative Freedom: Flippers have the freedom to renovate and design the property to maximize its resale value.Drawbacks:Market Volatility: Flipping is highly dependent on market conditions, and a downturn in the market can lead to reduced profits or even losses.Capital Intensive: Flipping often requires significant upfront capital for purchasing, renovating, and holding the property until it sells.Income Tax Implications: Profits from flipping are typically taxed as short-term capital gains, which may result in higher tax liabilities.Buying for Rental Income and Long-Term InvestmentAdvantages:Steady Cash Flow: Rental properties can provide a consistent stream of income through monthly rent payments.Appreciation Potential: Over time, rental properties have the potential to appreciate in value, providing long-term wealth accumulation.Tax Benefits: Rental property owners may benefit from tax deductions on mortgage interest, property taxes, and depreciation.Challenges:Tenant Management: Dealing with tenants, maintenance, and property management can be time-consuming and requires effective management skills.Market Risks: Rental income may be affected by market fluctuations and changes in rental demand.Liquidity: Unlike flipping, rental properties may not offer immediate liquidity, as selling a property can take time and incur transaction costs.Comparing Potential Returns and RisksBoth strategies offer the potential for attractive returns, but they come with different levels of risk.

This is another area that can get very complicated depending on the circumstances.

You should consult with an attorney in your state to make sure that you are using the best asset protection strategy for your situation.Your budget: The cost of asset protection can vary depending on the type of protection that you choose.

One thing to keep in mind is the insurance, as insurance can be very high depending on the properties.

That all depends on the deal.

Then a lot depends on your total picture.

Even saw it on the internet somewhere.