@Dan Fritschen Not a sale or taxable depending on the way you structure the deal.

Hello BP Community,This is my first post and I am not sure if I am asking too much!

I was already well into the remediation policy after Helene on 4 units, now picking up the rest of the pieces. 

The selling price is $700k, and the ARV is around $930k.

Will the bank count all of the debt against my income, half?

Purchase price: $55,000 Cash invested: $60,000 Sale price: $245,000 Property is on the market right now.

The market price at the time was $325K and I purchased it for $208K free and clear.

Thanks for the feedback Greg.

At the end of the day, the sellers looking to transact in creative finance transactions are normally the owners of real estate that cannot sell easily in an arms length transaction or are gouging  the buyer on price.

These are homes that have been foreclosed on and are now owned by the bank.