In general, it is always good to look at the taxable value every year for your property while you still own it when the tax statement comes.If you feel you can support a lower taxable value with sold comparables that are like your property nearby, then it is worth your time to try to dispute the value.It is true there is a very short timeframe to schedule a time to go in and dispute the taxable value with your local property tax assessor usually and the deadline is printed on the annual tax statement.The reality is real estate does not always go up in value.To your success!

Purchase price: $110,000 Cash invested: $88,000 Woohoo my project is finally finished and is listed for sale!

They are absolute cash cows, but you can't qualify with a second home loan since they are only for SFRs (Freddie guidelines in the link below)https://guide.freddiemac.com/app/guide/section/4201.15

You can most definitely do this.Take $x of your money, and invest it into a Qualified Opportunity Fund - lots of them out there looking for cash. 

Will it rent for enough to support the mortgage, taxes, insurance and maintenance until he passes the property off to his heirs???

I’m often asked by new investor hopefuls how to get started in real estate when cash is light.

If they didn't, the seller could foreclose.So, you could either:1) Buyout the middleman with cash and assume existing LC2) Write a new LC with the middleman and leave the existing LC in place, but include language that requires proof of payment to the underlying LC.

If they had bought using HML this wouldn't be an option and the seller would have needed to shortsale or bring cash to close.

That's not including the unit that her boyfriend would be occupying (and any cash he might be contributing to the place on his end) or the store front.

Seems like automatic cash flow.