Three years after the tax sale, the investor may demand a tax deed.

The cash out is "Tax free" and can be used as a down payment and to build a safe net by putting 3-6 months reserves in a savings account.

It will take 1.5-2 years to recover the actual cost but less once I consider tax deductions and that will be an ongoing process I believe as I think the physical mechanical heaters will be deducted over the course of some years while the labor will be deducted in 2023 & 2024.

They can provide insights into specific neighborhoods, potential rental incomes, and property values.Remember, when calculating your costs and potential income, factor in property taxes, insurance, maintenance, and potential vacancies.

Hi guys,  I am house hacking my first time home with some STR and looking for an accountant who understands STR income in the South Carolina, Beaufort, Charleston area.  Does anyone have a recommendation?  I'm from SC...

  Quick question and help needed from the tax pros/gurus in the audience.

Basically my question is does a lender actively monitor things like taxes and insurance after the loan has closed to make sure it still fits their standards?

If you don't itemize you would pay tax on the savings account while paying off your mortgage wouldn’t cost you any tax savings, a tiny variation that makes paying off the mortgage “less bad”.

He'll have to pay taxes on this and might put him on the radar of the IRS.

The biggest thing is to look at is the overall cash flow and not just the P&I payment.Especially in Texas, you will want to look at the property taxes and the insurance costs.