You can still find deals but it's not a cake walk like it was from 2008 to 2014. 

I'd like to collect rent on the 1st and then pay the mortgage on the 7th to prevent the lag of pulling money out of my property account just to put it back in within a day or two, but I want to make sure that my interest won't go up in the 6 additional days if I pay it on the 7th.Can someone let me know if that makes sense or if I'm misunderstanding how mortgage interest is calculated?

I purchased the land with the intentions of building additional duplexes in the future.

I'm currently 27 years old and enjoy long walks on the beach.I also have somewhat of a lame sense of humor :-pIf you look at my profile you'll probably notice that I've been a member for almost a year, so I suppose I'm technically not "new" per se, but I am new to the forums and I'm making an effort to become a more active member.

Personally, I would walk away, but he's emotionally invested, so, I'm trying to give him at least some tips, where he should ask for changes in the contract, which probably won't happen. 

I just walked the property today for the first time. 

Once it is empty he should list it as a owner occupy SFH and hope for the bestIt's a lost cause so best to walk away and buy when it goes into bankruptcy.

So I suppose then the best way to do this is to just keep the asset in a Solo 401k and get my portfolio lender to agree to a non-recourse loan, keeping the asset and profits in the retirement account without incurring additional tax burden. 

I have a solid rental portfolio of houses here in Austin, but the cashflow is minimal compared to what I can get in multi-family or in the mid west. additionally, I'm looking at purchasing non-performing notes and turning any of the foreclosed properties into rentals.Are there any strategies for selling off the houses, either in bulk or individually, to minimize the tax burden for when I reuse that capital to purchase non-performing notes?

This allows you to buy the house with the first draw, then take out additional draws to finish the repairs.