So the money you paid is gone and you have a very expensive lesson.When someone buys something at such a great discount, then its easy for the court to say, wow, something so wrong and this is not an innocent buyer, then they do not feel bad about reversing the fraudulent sell.Someone not opening probate when someone dies is why there are homes that someone 'inherited' from a few generations back, but its still owned on record by grandma who died 50 years ago. 

You will not generate a taxable event.

My investment strategy looks something like this 1) Start direct mail campaign / generate website leads 2) wholesale and co-wholesale deals to start.

And since the loans are 30 year loans, the payments are lower which help you qualify for future loans.

I have a spreadsheet that you can book each transaction each month that will help you generate your financials at YE.

I like morning side, if its on a good street you might be able to see some appreciation in the future. 

@Shan Keter WhiteWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

These are all future problems that can be analyzed in the future, don't let them hinder you.

@Melissa WilliamsonWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

If the answer is yes, then Opportunity Zones both enhance the potential for your own balance sheet, and allow you to redeploy capital from other investments.The two greatest unknowns that concern me are the duration of the investment for tax free gains, and future legislative changes that can dramatically alter the policy.