When dealing with HUD and Federal Funds, you usually have both completion bonding and Davis Bacon wages to consider.

Federal Highway Ste 400Fort Lauderdale, FL 33306Office: 954-332-2050Direct: 954-895-9324Fax: 888-797-7067

I assume you're talking about federal/state income tax, not property taxes.A flip or a spec build will be taxed at your normal income tax rate, it's not a capital gains taxable sale.

2) What risk is incurred if I deduct the mortgage interest on my Federal Income taxes even though the 1098 mortgage interest statement will be attributed to the seller?

I currently work full-time as a Quality Control Manager on federal projects and Project Engineer on State and City and County projects.

I do have the businesses Federal ID number, but not sure were to go from there, and how to evaluate credit etc. 

Especially around south King County (Burien, Renton, Des Moines, Federal Way, Kent, Auburn, Algona, Pacific, Puyallup, Sumner).

A fiduciary corporate trustee (in SD, UT, NV, or AK) provides administrative duties in compliance with trust situs requirements.The irrevocable trust, which maintains fully discretionary distributions with no ascertainable standard and meets the requirements of the Restatement (Third) of Trusts along with those of 11 USC 541(c)(2) and is "a restriction on the transfer of a beneficial interest of the debtor in a trust that is enforceable under applicable nonbankruptcy law is enforceable in a case under this title" is fully judgment-proof against state and federal claims.  

And if you deny an applicant because of information contained in a credit report, you'll need to send them an adverse action notification.It's my understanding that federal fair housing laws do not apply to buildings with 4 or less units if the owner occupies one of the units.

In ten years it is more likely that the property interior will need updating as popular styles change but the structure will remain sound.