And that's the mental exercise you can go through to see just where your tolerance level is for paying tax vs the deferral route of a 1031.  

I grab the data and enhance it with the name of the bidder (if I have it) and the type of property.

The policy came in at $4124.I let the broker pick what he thought was reasonable as a starting point and it looks like $2M in General Aggregate, 2M in Products and Completed Operations, $1M each occurrence, $1M personal and advertising injury, $500k damage to rented premises, $10k medical expenses, a line that says $1.11M as the limit on the building, 80% co-insurance, $5k wind deductible, $5k AOP deductible, and a property enhancement endorsement.Clearly I need to have him walk me through this, but are there any good self-study resources AND any good rules of thumb I could apply to see whether this is reasonable? 

Based on what I've read here on BiggerPockets, it seems that the IRS's 120 day right of redemption period is merely a statutory right that the agency has not/does not actually exercise(d).Would it even help me as a 3rd purchaser of a property at a sheriff's sale to start the demolition phase of construction during this 120 day redemption period? 

But maybe structure it so that some or all of the rent and option fee are credited to purchase if exercised. 

For example, a cashflow investor may be looking further down the road, but is looking for above average cashflow to re-position, improve, or otherwise enhance a property to hold it long term.Hope that helps.Good Luck,Jim

I was going to start a mailing campaign on foreclosures from a list I was going to get from Foreclosures Daily and at the same time go knocking on doors with my partner to enhance our chances of getting a deal.

I'll spare you the details, but a phone call with Baltimore permitting revealed they would love to turn this simple task into VERY expensive enhancement (of which I could find no basis for in all the MD, Baltimore, or International Building Code books).So, I'm curious if any other Baltimore City landlords, rehabbers, or property mangers have ever had a similar experience?

A good exercise for anyone is to call every single small bank is available, and see if they will do 80% loan to value on acquisitions.If you have a business plan that shows that you buy fix and hold, and you only want 80% of value in a reasonable interest-rate, they may accommodate you 10 20 or 30 yearsJust search for portfolio lenders that will work with you has a lot to do with two things: one is your persistence and two is how organized and professional you areGet a business plan that shows that you're for real and show every single deal you've doneThe alternative is to get private lenders that will lend you 80% loan to value in long-term

Same exercise but bigger dollars.