This would leave some 300 odd $ a month I need to pay taxes of (rental income 1250$/month)...so how do people manage to get a tax loss?

It would be odd/silly for this contingency to run all the way up until the closing date, but I don’t know how you guys do things there.At the least, I’d communicate with the sellers letting them know the sale of your house has fallen through and it seems highly unlikely you’d procure another buyer and close by your contract date....doing a mutual release now would be beneficial to the seller so they can get their house back on the market.

Update material costs based on what you saw at Lowes and Home Depot...but check this against homewyse as wellStart making nice with a contractor and ask to see their existing job sites.Use J Scotts method of going to Home Depot or Lowes early in the morning and see who is checking out at the contractors desk if you need a place to startWhen starting don't try to estimate by only looking at an MLS listingIf you're new the odds of you finding a deal on the MLS are rare.

Oddly enough, the best cash on cash ROI deal I’ve ever made was site unseen from 2,400 miles away.

Odd we want what we don't do but most people I know that go from flipping to building don't go back.  

Ran into a odd situation today maybe someone can help make sense of?

I've always been at odds with this list, as well as probates because I feel like you're profiting from others misfortune.I haven't used attorneys to get these lists.

Interesting to hear that State Farm is asking these in-depth questions, but it doesn't seem odd to me given that you are out-of-state.

I have not tried to do this so I do not know what the odds are of the lender calling the loan.  

The more I listen to podcasts on here and read more and more about REI, I'm falling in love with every aspect of it especially the math odd enough!