If it takes 12 months, we'll pay a little more in interest but save on taxes. 

Will this deal structure result in PA transfer taxes of the improved parcel?

- Aside from the following: Condo fee, tax, home owners insurance, hurricane insurance (is this in addition to home owners insurance)?

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I would suggest spending about a year or so on BP as well as listening to podcasts / reading books on everything ranging from financing to taxes.

Make sure you have that addressed just from a liability standpoint. 4) You could also look into a mid-term rental option with traveling nurses if you think the unit is truly rentable. 5) AirBnB restrictions have gotten much stricter as well in general in Chicago, so make sure you are on the right side of those if you put your unit up since you are required to register with the City.

Tax Implications:If I use a HELOC for purchasing a rental investment property, is the interest eligible for tax deduction? 

You protect on the liability side, but you lose on the transaction flexibility and cost associated with lending on property held in LLCs 

Based on a rough analysis for a project timeline, I believe the total project can be completed in 5-7 months with the team I have available if we get involved in completing the work on the project.Deal Analysis as a whole - Actual Costs may be slightly different but estimates should be fairly closePost Construction Estimated Market Value - Lot 1: $379,000 Lot 2: $307,000 Total Estimated Market Value $686,000+- $102,000 - Cost to payoff HML & Previous Builder- $154,800 - Estimated Cost to complete House #1- $170,370 - Estimated Cost to complete House #2: Includes New Well/Septic $7500, Impact Fees $2100, Permits $1000= $427,170 - Estimated Cost to Payoff HML, Complete Construction on House #1, and Construct House #2+ $686,000 - Total Future Market Value- $20,580 - 3% Buyer Agent commissions as the current owner(Listing Agent) will be listing these properties without compensation- $2,538 - Real Estate Transfer Taxes- $1,500 - Settlement Costs Paid at Closing______________________________________________ $234,212- $27,900 - Payment to Seller for Down Payment made by seller to HML @ Origination (For her to break even)= $206,312 - Potential Return before any Interest/Fees/Taxes/EtcI've spoken to a few HM Lenders and ran rough numbers by them.

I'm a new investor looking to get into the world of tax lien and tax deed investing in Maryland.