I know I will be taxed higher on income and it will be harder for me to find financing.

. - Looked at the property tax.

If they own it and are going to put it in that bank then offer to borrow the money from them and pay on a monthly basis to they get more money than they would in the bank and then avoid taxes too

If so, then a spreadsheet could probably do.Also do you do your own taxes or have a CPA?

Basically kill your deal if they do not like it or feel there is a red flag.If you did not supply a tax return or lease they should not consider it a rental even if you do not own a primary home.

Furthermore, you should be getting a cut of the proceeds of the sale (again, GPs will take 10-50% depending on deal structure), so even though cash flow is disappointing, you should make something on the sale, if the GPs manage to get a good sale price.The GP collects cash flow in the form of a quarterly administration fee (or asset management).

BUT you have less red tape, no tax returns, DTI, or employment checks are required.

I am researching a property that is scheduled for tax foreclosure sale in Wilmington, North Carolina, New Hanover county.The law firm that handles the foreclosure for the county says that the property will come with a “non-warranty commissioners deed” but the paralegal could not really explain what that meant.The law firm also says that they WILL sell me title insurance at the time of purchase.

Taking the inspiration from the post " How to buy a tax deed at the Fulton County Tax Sale, Atlanta, GA" by Dan M.  

My understanding on this is that if you build it unpermitted, the benefit at that time is that your property value likely won't increase because the square footage is not assessed to increase the value of your home and therefore the property taxes.