Through depreciation, other income taxes are offset, through debt paydown and appreciation, he's going to gain $thousands per year in equity.Subjectively, it may appear not to be a deal, but if the buyer understands these factors and wants the property, an entry fee under $10K sounds like a deal. 

The total monthly payment will be pretty close to this: P&I - $1,295, Taxes - $420, Insurance - $175, PMI - $220, for a grand total of around $2,100/m.

Meanwhile I have it in my hands today, even tho my valuation went down, my property tax bill is up exactly 10 percent.

These expenses covered various items such as property taxes, insurance, utilities, and financing costs during the project.Sale Price: Following the renovations, the property was sold for $205,000.

You really don’t want to sell in under a month or you’re facing regular income tax plus self-employment tax instead of capital gains tax or zero tax if you move in. 

Thanks to the Cost Segregation Study, the property investors accelerated the depreciation that the first year depreciation was approximately $356,000.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

What are the taxes like for 60-100k houses in Detroit annually?

Hello BP Family,I'm looking for some guidelines on doing STR mainly to help with tax-loss harvesting.

And as soon as you’re not deferring $130k, you’re not deferring anything, it’s considered profit taking first. 

Like others have mentioned that seems pretty cheap but if the area is good and there are no major renovations or deferred maintenance(e.g. old furnace, water heater) that would be cost prohibitive to you in the first few years of owning it, it seems it could be a good opportunity.