@Curtis Maag@Wayne Brooks is correct but it was almost changed in the trump tax reform- understand it may change in the future but all you can do is make the decisions based on today’s rules. 

Hi all, Newbie here and not even sure if this is the correct place to post so please forgive me if not. 

I don't know what's going to happen and I am keeping an eye on the changing market conditions because like everyone I am expecting a correction. 

@Frank Wong is correct. 

Previous transfer of the property has the grantor and grantee backwards, and we cant locate the previous owner to have them sign a corrected deed.  

I think you are correct—time to find a new agent.Tim, I’ve had this triplex since 1983—never a claim on anything.

@Josue VargasYour understanding is correct: when you take money from your 401k before normal retirement age - you would have to pay taxes and penalties on the amount withdrawn, in most cases this is not a wise financial move.Alternatively you can move these funds into Self-Directed IRA, without any tax implications.

If your ARV is correct, you want to get this place for ~$80k to make it a true BRRRR.

Yes realized it bit later, posted it in correct forum

For that area, the maximum FHA loan amount appears to be $1.4MM, but please correct me if I am wrong.Aside from the 3.5% down, I have also read there will be 1.5% PPI and closing fees, so should expect to spend 6%, but can refinance the PPI after a year or two.