Hi, so I won a tax deed at an auction for a vacant lot but I am trying to determine if there are a bunch of leins on it.

Prior to getting your loan, it will be important to know what your strategy is for that specific project.

Most Jumbo lenders use IRS returns net number so be careful filing your 2023 tax return in not making the expenses total greater than 25% of income which will generally be the hit on gross rents. 

I think this makes everything cleaner for taxes, documenting historic rental payments, and legal issues that may arise due to the barter, etc.  

So you will need to know the rules where you work, as well as know the sales tax requirements, for where you are working.

Alden Global Capital, known for owning the Chicago Tribune, has invested in Chicago's delinquent property taxes.

Property taxes with the exception of no income tax states tend to be way, way higher in cold belt states.For development the entitlement process tends to be longer in cold belt states.

When you transfer money from your business banking account to your personal account, the IRS will see this as income, and you will be taxed accordingly.

You will also want to be sure to keep your eyes and ears open to the possible tax benefits of investing in RE.

I also gain the mortgage pay-down in equity and the tax advantages of real estate to offset my gains.