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Banks often stop paying the taxes when the escrow money for taxes gets used up because the owner stopped paying the mortgage.

******** Posting as Amanda Sugay Alexander, using my partner's account ********This review is for Soli Cayetano and the Private Money Playbook course.

It is not normal to see that high in one year but it does happen too often when they need money.  

The money spent on the flip will be a write off from your profit and shouldn't be taxed regardless. 

Talk with the lender you are working with because you may need a second on the property to meet the gap of the money down and the purchase price ( you can do a second in this situation).

Limited resale pool, and most "cash buyers" actually use hard/private money and they typically don't want to lend in 55+ communities. 

It's important to analyze what went wrong to avoid making the same mistake again.I see a lot of new investors spend their very last dime purchasing a rental, then they have no money available to cover unforeseen events like what you experienced.

On the flip side, you could go to the worst city in America like Detroit was, in the worst neighborhoods but if you have experienced team members you will be much more likely to make money there!!

Real estate is the long game, if you invest in 3-5 years besides the last 5-7 years you typically will not have significant equity gains, but when the govt pumps 6T into the economy that is why pricing went up and people made money, not because people became savvy investors.