Get properly trained.Thanks for the honest warning.I'm aiming to those who are already in a pre foreclosure process and the auction is coming up next week, and they're literally looking for a way out and for someone to pay their arrears and keep the property  

The IRS has provided a safe harbor for certain structural modifications to a building that are not treated as a demolition and thus, not properly chargeable to the capital account with respect to the land on which the building is located.

But, I will lower my monthly obligation to around $3000-3500 ($2500 new mortgage plus $500 delta on previous home mortgage). 

Can you count on mortgage rates being low enough to refi and make sense for you?

Foe investors who like to purchase land, is every lender requiring it to be financed on a 15 year mortgage instead of a 30 year?

This would be HOA fees, mortgages, utilities, repairs AND your property management fee. 

If your exit strategy is to rent the units then you will want a DSCR loan (30 year mortgage for rental property)  to refinance the fix and flip loan.

It does not give you the protection of a properly formed LLC, but it does provide a bit of anonymity and can spell out the division of income to the beneficiaries in the trust docs.There should be no transfer tax involved with the trust, and it will not trigger any due-on-sale clause thanks to Garn-St Germain.BTW, if you do use a trust, only record the Deed into Trust, but NOT the entire trust declaration. 

I can get 30y just under 8% currently from my local bank (7,300/mo mortgage for $1 mil). 

Also worth noting that he took out a reverse mortgage on the home before he passed away.