I have been watching several of Mark Kohler's videos on Youtube regarding tax strategies and planning, and came across something that made me scratch my head. 

One lesson learned is that the closing and purchase process could have been more efficient.

My in laws lost their entire retirement savings because their underwriting was too aggressive and they bought several properties most of which ended up with negative cash flow.I am not against refinancing or using a HELOC to buy a property, but The market right now is a property will give you close to zero cash flow (80% down) then you’ll need to come up with another $750 a month to pay down the HELOC and come up with probably another 5-10k in reserves in case the furnace breaks or tenants trash your house or…   Without knowing your financially situation, You are probably better off getting a second job for a year or two to save up for a downpayment then using a Heloc.

My mom has no existing mortgage or any form of lien on this property.We accepted a seller financing offer, and are currently under the closing process.

You’re investor makes close to 10% cash on cash if you keep all your money in the deal…however if you do this process right you will have equity upside after closing on the property snd then can decide if you want to refinance ect based on your business plan.

I don't buy in Hillsborough but I do watch the Pinellas auctions. 

They don't like assignments, so if you have a deal you'd likely have to close on it first.

For the past few months, I have been watching YouTube videos, listening to podcasts, and practicing with deal analyzers.

Just write it up like any other sale, its just that the closing date will be about a year out... 

Hi,I am a new investor and just closed on my first rental property.