Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC (you can elect to have a LLC taxed, as a S Corporation which is a whole other conversation).If you want to close in the name of a LLC, Mortgage Lenders will offer you Commercial Loan Terms (25-30% down, a 15-25 year amortization, and a ballon due in 5-7 years).

Additionally I would suggest having the long term financing relationship built so that they can easily transition the deal after renovation. 

Exactly if its a hot deal cash just means you beat out the next guy who needs financing does not mean deep discount .. at least in markets were RE is sought after.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

OPIf you have a company with a Sales tax license.  

Schlage has a 3 yr warranty on electronic locks and the UPS you a replacement after a few photos and a quick phone call. 

The property now cash flows $4,550/mo after all bills are paid.

I know some investors use them as a tax-advantaged way to grow their portfolios, and I’d be curious to hear your thoughts on that.Looking forward to your insights!

A few things that newer investors should note:- it took 13 years to get there, you have to be patient- rents are high at about $1,750, so probably a quality neighborhood- looks like that is after vacancies, probably low turnover?

Quote from @Matt Pfefferlen: In a HOA foreclosure in California, does the homeowner get the excess funds after the 90 day redemption period is over or soon after the auction takes place?