How much tenant improvements needed, free rent, attorney legal fees, tenant broker leasing commissions paid, etc. ? 

: 1) buy the house by using $50k in cash from a HELOC2) get an invoice from a contractor for the $15k in rehab costs before closing and put the $15k in escrow with your closing attorney in charge of the escrow3) on the HUD1 settlement statement, enter the $50k purchase price on line 101 as the "contract sales price", enter the $15k on line 103 as "settlement charges to buyer", and the total of $65k on line 120 as "gross amount due from buyer"4) the property gets rehabbed and the contractor gets paid through the escrow as the work is completed.5) get a tenant placed in the property after rehab is completed6) get financing on your property for the lesser of a) 75% of the ARV which is $67,500 or b) the "gross amount due from buyer" per line 120 on the HUD1 settlement statement which is $65k7) so overall, you get your $65k cash back out through a mortgage that is based on the "gross amount due from buyer" per line 120 on the HUD1 settlement statement8) you now have a rental property with a tenant paying your monthly mortgage and you essentially have no money left in the deal@Andrew Postell I read your other post, which was fantastic.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

I realize there are some other gotchas, like I would have to make sure that XYZ didn't have any other liabilities or pending lawsuits, but I'd let the attorney manage all that.

@Greg TunesThere are better qualified people on this site but what I would do:Speak to an attorney whom specializes in quiet title.Are the taxes up to date?

Consider reaching out to a real estate attorney for a consultation, ideally in a state where you plan to invest/form partnership.Best!

It has been really hard to find Does anybody here in Columbia, South Carolina knows an attorney that handles assignments of contracts or simultaneous closings?

Please be advised, I'm currently in search for an Attorney that specialize in SUBJECT TO mortgage contracts and closings, located in MARYLAND.

After paying attorney fees, clean up work, back property taxes, & RE commission, I figure my IRA made a $40,000 return this year on a $30,000 investment.

I called a couple of title companies and I’m told that in NC only attorneys do title searches (I’m not sure I fully buy that but that’s what I’m told).