Hey Paul,If you're using a contractor, he should be able to pick the cabinets that will fit your house accordingly.

Something that would probably be a great fit would be a bridge loan. 

The numbers seem decent and it fits the 1% rule but make sure you are not being optimistic with your numbers and are being as picky and exact as possible.

It's really fun to learn various strategies, and choose the ones that fit you best.

After that we are covered 100% on top of the $300.

Definitely connect with top investors in NJ -  I know they have some solid investor groups and meet ups in that area.  

If recourse debt: In foreclosures the property is deemed to be sold for less of  1)FMV or 2) the amount of debt.There will be a debt discharge income on top of capital rate gain, if any.

If they are Commercial. then you need to figure out the cap rate in the market and buy well bellow that. on top of that you need to know what could they rent for as is or renovated. - you can have local property manager provide rental appraisal. 

This puts me firmly at the top of the range unless I go out a bit further and compare with more upscale homes selling for 1.2m+.

The boot is treated as passive income and you will get to deduct the losses.On top of that. 1)First, see if you can find a way to decrease your AGI below 150 in you are on the borderline.