We just refinished renovation and requested our final draw, which went to plan.  

@Chao Yi Shih hi my main concern here is that if you didn’t get a real inspection it sounds like you don’t plan to get insurance on it.

I know that the area has more plans for expanding so I think finding renters would be in my favor if I were able to find a rental home.

All Ira’s are custodial but there are plans that have a checkbook control feature allowing you to essentially bypass the custodian and save time and fees.  

I was also planning on paying cash for remodel but fix and flip supposedly includes this in their package? 

Purchase price: $220,000 Cash invested: $8,000Located in downtown Woodstock IL, this 2700 sqft 2-story historic home features craftsman woodwork, built-ins, and hardwood floors, with modern finishes. 5 bed 3 bath property with a huge yard, fire pit, and full unfinished basement partitioned and accessible to both side-by-side units.

My plan was to make another deal within a year of moving here, but due to some circumstances my money has been drained.

As I want my W-2 job to cover me when I purchase my next home that I plan to live in.

Once you have the building plans and projected budget, you can get a no-cost estimate on the tax benefits you are entitled to.

You will also have an issue with floors not completed, holes or missing drywall, missing toilets, sinks, etc...Most of it can be fixed but it does cost money if you allow the appraiser to go out to inspect and if any of the above is missing or damaged.