The plan for me is to, after I sit down and compile a list of options I think are reasonable, creative (or common), ethical, and legal, I will consult a local real estate attorney and come up with an order of operations, much like the manner in which Nathan has presented his.Other options I’ve thought of:1.

Sellers won’t budge at $759,000.The property is properly priced.This would be a primary residence that I can also operate as a str.

I can call them any time a new property comes on the market and get detailed information about the condition and how the current owners operate. 

Do you provide a EV charge point at your property.. Specifically a Tesla charger. ??EV owners have range anxiety when going to more remote type locations.Tesla owners as a demographic would be a good option for a tena...

Hours of operation can be really important, otherwise you may be causing turnover up top.  

But I would be operating out of the Houston area!

And a flipper is basically a small scale developer, so you will not only have split, but also various fees for your services: acquisition, disposition, development/construction management, etc.Some MF operators have a pref + carried interest, others have a straight 80/20 split from day one.  

@George Azita The sale would not have been canceled unless the Trustee accepted payment in full, agreed that the sale would not move forward (verified settlement imminent with payoff in full forthcoming), or was prevented by operation of law (BK filed, etc.) 

To determine if the expense should be classified as a capital improvement or a deductible repair, the context of the expense is very important.An example is, if an item of expenditure is part of a general plan of modernization, renovation or rehabilitation to equipment or other business property, it typically must be capitalized even though on its own it would be currently deductible.According to IRS Code, expenses that you must capitalize are those that:Materially increase valueSubstantially prolong useful life (including replacement of deteriorating assets)Adapt the property to a new or different useHowever, you are allowed to deduct expenses and fees for routine maintenance and repairs that help keep the property in efficient operating condition.

Funds to close were provided by the equity partners in the deal and from cash accumulated from the operation of other rental properties held in the portfolio.