And as for the house --it's in Quincy--south of Boston --walking distance to public transportation --right in Quincy Center--there is a major development under way.Current Rents $39.3K a year (probably a bit low still)Taxes/Insurance $11K a yearWater Sewer $1200 a yearI've never had a vacancy in 10+ years but accounting for 5% vacancy this gets to NOI of $25.1K per YearAsking Price:  $630K.  

Rates are generally 4.75%-6.25% depending on the terms of the note.The use of non-IRA funds to leverage the IRA triggers a tax known as UDFI (see IRS publication 598).  

Typically with a property this size you require the schedule E tax transcripts of the seller from the IRS.

You should be provided with a HUD sheet that breaks down all the expenses / credits on it, before the closing, you will have to pay county and state tax, filing fees, transfer tax, etc. 

The county tax records still list the original owner who no longer lives there.  

The only thing I can think of is shop around for different insurance, and make sure your property tax assessment is at or below the appraised value of your refinance.  

I would spend summers working at job sites so the construction aspect is not foreign to me.I am also a trained CFP, certified financial planner, so the numbers aspect is not confusing.I suppose the main challenge I have is actually buying a house.

I recently purchased a tax deed property and I'm am going to rehab it and flip it.

Where I will be able to get a mortgage/taxes/insurance for about 350-500 a month.

Where I will be able to get a mortgage/taxes/insurance for about 350-500 a month.