Oh, but don't forget to deduct tax on that).I reckon there are just too many uncertain variables to risk paying (at least) $89k on a home that sold comps say should be worth $99k (if rehabbed to market satisfaction).Looks to me like the "seller" is a wholesaler, looking for a flipper-wannabe to whom $10k seems magical... 

All of the language I read on the IRS website mentions that redemption requires the IRS to pay a purchaser at auction back their purchase price, but I can find no info on if the property is transferred to someone else before redemption.Any help GREATLY appreciated, as the current plan is to transfer to the LLC ASAP.I know the likelihood of an IRS redemption is very low, but I still want to plan for that possibility.House is located in Southern California, if that matters.

@Carl Fischer The "problem" of roughly $3.4 million of potential capital gains wouldn't evaporate if the house was located in PA instead of CA, and had the exact same fact pattern. 

@Chandler Scott as I mentioned before it depends on asset class and number of units in one location and/or spread out.

Understanding the lending process and variables will save you time and money once you locate the deal you want to close. 

The location overall is perfect for those commuting.

Know that chosen neighborhood better than anyone else including the real estate agents.Then when a deal comes up, you can buy with confidence.Most guru's act like there is a magic formula that only they know, I just don't think that is the case, and even the ones that do provide value are probably best suited to someone who has done a couple of deals on their own in the first place.Just my two cents, best of luck to you. 

The investors magic number is 14.

I've been thinking about investing in Cleveland as well, since I'm currently located just south in Youngstown/Warren, Ohio.

I found a flip property that is in a great location with potential to make a great return.