Really something the lender should thoroughly explain to someone purchasing a home where the taxes at the time of closing don't represent the final/improved tax amounts.   

If the property is consistently requires expensive repairs, selling it and reinvesting in a less problematic property through a 1031 exchange could be more financially beneficial in the long run.Remember, each option has its pros and cons, and the best choice depends on your specific financial situation and long-term investment strategy. 

I'm fairly certain that there is an expectation that you move into the property within 30-90 days after closing.  

The house need 100-150k worth of rehab but I closed him at 215k once finished the house will be worth between 700-800k.

Additionally, thinking about investing in different property types or enlisting the help of a trusted property management firm may be wise choices.

Hey @Craig Simak, are you looking for an attorney to conduct real estate closings, someone to help with entity structuring, someone skilled in landlord/tenant law, or something else entirely?

The model helped me narrow down my choices and focus on deals that had a chance of working out.

I think it's important to thoroughly research all aspects of your mortgage and tax laws to ensure you're making the right choice.

I think a house hack two-family is ideal, especially if it's close by and he has reliable friends to live with so you can supervise their first living outside the home and being responsible.

First deal, close to home, B- Niche grade neighborhood.