All of those are questions you should be asking (when appropriate) to anyone you can find involved in a deal who is willing to share.

I believe in order to achieve my goal, an appropriate loan for me would be a FHA 203(k) as i do not have a large down payment to put down but i am willing to put in the work.

@Zach Quick I'm still very new to BP so I apologize if this wasn't the appropriate avenue.

My guess would be, it is appropriate to deduct it against the income in the year that the lien redeems and you actually receive the interest.

.- Includes Contractor having all appropriate insurance.- Removal offsite of all demo material and old fixtures, finishes, appliances, garbage etc.- Contractor must protect all adjacent areas to work being performed.

I hope my subject line doesn't deter responses, but I felt it was the most appropriate.

It really depends on what company is financing you.If you are trying to use a conventional loan from a major bank or credit union,they will probably say No.If you are using a private lender at a higher interest rate for the first year or two until you can refinance,then the answer is yes.Also,your final purchase price needs to take into account the entire cost of rehabilitation of both properties to see if you should buy them or move on to other properties in better condition.

So if your team is licensed as a general contractor or home improvement contractor or whatever the appropriate term is, and is licensed, bonded, etc. you just fill out the paperwork and send it to the lender.

You might even get the appropriate discount but not be able to manage effectively so your costs are higher than your discount from market. 

I looked up the property on the MD tax assessment website and the owner has a PO Box address, would it be appropriate to send a letter?