If you listen to this weeks BP Money podcast with @Scott Trench and @Mindy Jensen, Scott describes using this strategy as a "cheat code" and I agree with him because of these reasons:The exclusive owner occupant bidding period for these homes gives you access to purchase properties you would never be able to purchase if investors also had access.

I still haven't gone directly to the owner yet; this was brought to me by the tenant because she knows I have been working and studying REI exclusively and have my own LLC.

Depending on local (state) laws, it can take a month with several postings in a newspaper of record or 6 months of multiple postings to complete a "simple" Quiet Title action.

There are a bunch of really great CPA's on these forums who work exclusively with real estate investors.

@Matt Tobler With a Lease Option, you likely don't have rights to sell the property,  depending on if the option is exclusive or not.  

In her case - her basis would be $450,000.Interesting about the section 121 exclusion is that the code section says the person must own and live in it for 2 out of 5 years.What is the value of the house now?

However, none of the gifting would be subject to gift tax/lifetime exclusion as she is entitled to the unlimited marital deduction.

I don't have much experience but there's a guy out of Wisconsin that exclusively works as a GC for his rehabs and he has a fun Youtube series documenting his interactions with his sub-contractors and employees.His name is Nick Ruiz, and he has an awesome book called "Starting From Scratch".

Zachary,Your primary residence will qualify for $250k ( $500k if Married) gain exclusion if all following requirements are met: You owned a home and used it as your main home during at least 2 of the last 5 years before the date of the sale.The gain exclusion is unavailable for any gain allocable to a portion of the property sold or exchanged with respect to which a taxpayer does not satisfy the use requirement.For example, if a portion of the property (separate from your dwelling unit) was used for nonresidential purposes, only the gain allocable to the residential portion is excludable under sec 121.So allocation of the exclusion based on the sq footage is reasonable or any other method that is reasonable.

Especially, if you are only using FB advertising exclusively.