If you're interested in learning more, please feel free to reach out.

I'm just thinking years down the road when I have a little more risk tolerance it could be a good way to take advantage of other markets.

I pulled a free environmental report on NETR Online and it didn't show anything concerning.

How much risk of losing the green card and being deported do you want to take?

These properties have no claims and are not in a risk area.

Can you take the small profit which may qualify as "tax free" and invest in properties on the mainland, or in a retirement account.

Less Competition - High-interest rates and market uncertainty may deter some flippers, reducing competition for distressed propertiesMarket Demand - In some areas, there remains strong demand for renovated, move-in-ready homes.Price Negotiation - Sellers of distressed properties may be more willing to negotiate in a high-interest rate environment.Cons:High Carrying Costs - High-interest rates increase the cost of borrowing, which raises your holding costs (interest payments, taxes, insurance, utilities).Market Volatility - Real estate markets can be unpredictable, and high-interest rates may lead to slower home sales and declining prices in some areas.Renovation Risks - Unexpected renovation costs and delays are common risks in any market, and high-interest rates exacerbate the financial impact of these issues.Financing Challenges - Securing financing for both the purchase and renovation can be more difficult and expensive in a high-interest rate environment.Mitigation Strategies:Thorough Market ResearchAccurate BudgetingEfficient Project ManagementFlexible FinancingExit StrategyFixing and flipping properties in today's market can still be profitable if approached with caution and thorough preparation.

Is there any chance we would owe the $3MM or is the risk just that the IRS will take it back, reimburse us, and then we don’t have the house?

Further rent control and politics add risk for 2+ unit properties, though not so much for SFRs.

That's why we have tax-payer-funded attorneys to take on cases for free.