Out of curiosity, depending how the credit is pulled into cash...could this trigger any red flags regarding money laundering?  

And dog hair stuck to trim that hasn’t been cleaned in who knows how long.

I have been gaining momentum for three years and I often think if I had just pulled the trigger years ago I would be in a much better position.

I started in the land business so I do have a lot of background knowledge at it.I have also been trying to buy a longer term cash flow asset and with rates were they are and cap rates out our way ( at least asking) at 4 to 5 to 6  they still dont make sense. but we are starting to see some 7s so if we can offer and get 8 on a nice project I hope to pull the trigger this year.

If you add to the title, you may trigger a new accessed value losing that low property tax basis. 

. $240k is priced to trigger a bidding war, I just am not a fan of the neighborhood.

The local HML can usually pull the trigger much faster than an outside person does because more research has to be completed to asses risk in lending for that area.This is why local HML lenders rates might be lower than a national HML lender that prices a few percentage point higher and one to two points more to price in the unknown factor of the area.

If the conversion of use doesn’t trigger any depreciation recapture or other negatives, then I could theoretically: buy a home, rent it as an STR for one year, claim all my bonus depreciation to offset W2 income, and then covert it to an LTR year 2.

They said everything looks nice except the toilets are dirty and there is hair in the bathrooms.  

Mike - I have been looking in Allentown, but havent pulled the trigger on anything here (although I do have properties in Easton).