Even if you have to pay more for the purchase think about the costs of carrying the real estate while waiting for the approvals  (debt service, property taxes, insurance, maintenance for the in-place tenant) and the additonal finance charges associated with originating an acquisiton/bridge loan and then a construciton loan at a later date. 

The co-op is the one selling it since the original owner didn't pay their taxes the co-op became owners.

However, you should always be able to claim a credit on the other state's tax return. 

Tenants pay $2350/mo and after the rate increase, this no longer covers mortgage/taxes/insurance.

Of note, there is a clear difference between tax strategy planning and tax preparation and the $25k paid was claimed by WealthAbility to cover both.

On top of that, there's a bill working it's way through the state to add an additional sales tax on real estate.

That means no Capital Gains, which means tax free.

Two (2) parcels in a manufactured home area, acquired through tax deeds and sold on open market with owner financing.A 2/2 condo acquired from the Forclosure action on the courthouse steps.A senior community 1/1 condo from a wholesaler.A senior community 3/2 SFR also form a wholesaler.All have proven to be profitable.

We would net $94k which is about what we put in.If we rent then our property taxes go up substantially and our total monthly cost jumps from $2900 to $3300 (PITA).

@Alex NgMost likely, income verification will be based on your tax return documents.