I wouldn't have that non refundable $5K earnest money in my offer.To me it looks like more than $180K rehabI hear you on how difficult it is to get under contract.

My question is if I want to use these funds (the cash received = appraisal * 80% minus outstanding loan balance) to purchase property for personal use (primary residence), if that creates a taxable event?

Even if you get a judgement, collection from someone without money is difficult and time consuming.

Just keep on going and hope you will balance that bad experience on the next job or maybe go positive and learn any errors will hopefully not hurt you again. 

Hello Sean, It can be very difficult to monitor lawn care and snow removal at a duplex when the tenants are responsible for it, typically landlords provide it + water and the rental rate can reflect that.

That said, when the market got bad, it wasn't terrible here ... life is all about balance, right?

The invoice says upon replacing the screen they found the sash balances were broken and replaced those as well.

Property needs work and tenants are difficult to work with.

If you’re looking to create a group to pool money and then buy deals, that would be more difficult then if you just wanted to have a group to meet up and discuss REI

The questions I have relate to the details of the transaction (should the loan amount be the original amount, or the current remaining balance?