When the tech bubble burst at the turn of the century, housing didn’t suffer notably.

With that, they have already declared that they will not be extending the contract to accommodate the lengthy appraisal timeline.To get the property, here is what I am considering:Step 1) Mom (she's a realtor) sends me a large gift.Step 2) I use this money to buy the home in cash.Step 3) I sell the house to my Mom for $1.Step 4) I buy back the house from my Mom, via mortgage, for the same amount as the large gift.Is this a reasonable strategy to acquire this property?

Sure it suffered due to COVID, but you want to buy when there is distress.

I think it will get extended again until fall and then again due to winter.  

Now that the moratorium has been extended until June,(thanks Joe) we anticipate tenant may get yet another adjournment.

I’m assuming this is the extended date of May 17th this year.

I was trying to possibly extend time between purchase and rehab and not feel the squeeze ofinterest building up.

@Lane KoehnIt looks like you are setting up an entity taxed as a partnership.Just a reminder that a partnership return will need to be filed by March 15 with the ability to have it extended to October 15.The partnership return needs to be filed before any of the partners/investors can file their individual tax return.You should consult with an attorney on drafting the operating agreement.

It's a boatload of money for two weeks, with the option to extend.

Obviously, retail has suffered a lot.