Some tax software like TurboTax , or professional services if you are too concerned,   can do it for you in a more accurate way . 

I am selling this property which was purchased at a tax lien sheriff sale, I signed a contract with one of those contractor guys who buys for cash, but he is not licensed and is just trying to sell it or wholesale it on the MLS, leaving me without any word on the process, The contract said they should have started the process of the Title search and notified me within a 5 business days and notify me within 20 days of any problems with the search, they did not start the search until 15 days from signing the agreement, then i sent an official cancelation he is accusing me of breaching the agreement and want to file a lien on the property for his right to buy??

While I am familiar with the ADA response to this topic -essentially all favorable to a tenant, but it appears there is an abuse of the definition as they are all employed, functional individuals who leave the assistive pet at home all day.

Todays market with multiple offers can make a property inspection a minor concern even at the pre-offer level. 

Thanks Ryan, I hadn't considered the new tax law, I was more concerned with the purchase price.

Cash flow is roughly $100/door below market right now leaving room for great improvement.  

That would leave plenty of cash to fix it up refinance and pay him back

I expected to put in about $5-8k to update fixtures and some appliances.After the Home Inspection I've got three big concerns going forward: 1) Roof hasn't been touched since late 90s early 2000s.

Hi, I did private lending to one of my friend , he mortgaged his investment property as first lien with me.agreement was that he will pay interest monthly, and he was almost regular on that.in July that property got  deadly fire, in August beginning he paid my interest for July and didn't mention anything about fire.today, he called me  and told that he wants of pay off(but he didn't pay last month's interest).I said OK start processing for payoff, but pay me last month's interest asap, then he told me that house went on fire and he is hoping to get insurance money and then he will pay, he has no money to pay interest .Now, my concern is should I wait and watch or I need to take some pre-action to make sure that I get insurance money since I am on first lien.That was my first ever lending :-(. 

There are three other tenants here, also without a lease who rent month to month, who are going to be leaving for different reasons over the two months.