We currently have enough liquid cash to purchase and rehab one investment property using conventional financing. 

Key differences I see: Much higher rentMarginally higher fixed expenses around $525Marginally higher variable expenses around 725 - as it is an older house, as are all in westchester, frequently more things break, keep a larger repair budget available.If you are living in a unit then you would be on the hook for about 2545 (2345 + 200 missing cashflow). 

I am sure there are different processes out there for larger properties.

We use my partner's REO asset management company, which is set up to liquidate REOs.

On a larger multifamily or commercial property, I agree that cost segregation may make sense.

I rolled the profits from this into another mortgage on a larger/nicer single family (rented that basement to a friend) and stacked some of the cash for a property flip I did awhile later.  

In a very simple word, if you didn't bring money into the deal, and you are entitled to receive money when the company liquidates (hypothetically) its capital with no basis of yours, then you will have to pay taxes on the money you got for free.

The only way to be profitable and make it work would be on larger deals. 50 plus acres.

I am more excited about the build to rent strategy for long term growth, but if you know you want to do a much larger project and need that capital then selling with that intention is a good idea.

Hi Dana,In addition to paint, maybe put a strip of black indoor outdoor carpet just in front of the door (and on the steps if they are not cement).That area is going to take most of the abuse of moving (scraping appliances and furniture) in and out, as well as most of the foot traffic.Cut 3 or 4 more sheets and toss them in the attic for future use.A hand full of staples is much cheaper and faster on turns than a full repaint.Also keep in mind that is a long narrow space and Lighter colors make things appear larger, darker colors--the opposite.Good Luck!