There a ton of pitfalls that can just crush you. from bad tenants from hell to city regulations that are impossible to figure out to taxes to bad rehab jobs etc.

Bu equally important that the seller is current on their property taxes.

>> Will there be any tax implication?

Obviously, I want as much for it as possible :)I just really need someone’s expertise to inform me if I am asking enough. 

If you're concerned about the tax implications, definitely talk to an accountant well versed in real estate to go over your options.

Title insurance should also reveal if the trustee has this ability.To clarify, if a trust names someone who is deceased as a beneficiary, the trust would then name someone else, or would name their estate (the reasons behind forming trusts in the first place would seem to indicate that it would be another person, since their are tax benefits and probate avoidance).  

And whatever taxes are owed (unless he's talking about income taxes) should be in holding costs. 

I do have a follow up question, would we not save on taxes by doing a BRRR strategy vs buy and hold ?

Through depreciation, other income taxes are offset, through debt paydown and appreciation, he's going to gain $thousands per year in equity.Subjectively, it may appear not to be a deal, but if the buyer understands these factors and wants the property, an entry fee under $10K sounds like a deal. 

Hi BP community, I have a unique homestead tax question.