I hired an accounting firm specialized in FIRPTA to handle the forms and remittance and put them in touch with title, but after closing, title company sent them a check made out to the firm instead of IRS.Title company claims accounting firm should cash check and pay IRS themselves.

For tax purposes, does anybody have an idea of what this would look like as I would be living in one unit, renting one-unit long term, and then short-term renting one unit to maximize cash flow and write offs against my W2. 

The cash flow on hand when you buy?

Anyway I dont have a dog in the cash flow hunt.

This is because at the current rates, a high LTV property (which is required to extract rehab costs) bleed cash. 

@Noel Dixon The most overlooked thing I see when people talk about assumable mortgages is that, if you can get approved by the lender holding the mortgage, you will need to bring the difference between the loan and purchase price in cash.

How could he have cash and not close?

Purchase price: $1,345,000 Cash invested: $500,000 Sale price: $1,825,000 Case Study: 3142 Fairfield AvenueThis case study delves into the transformation of an 8-unit mixed-use property, a blend of residential and retail spaces, located in the vibrant Black Rock neighborhood of Bridgeport, Connecticut.

Purchase price: $1,345,000 Cash invested: $500,000 Sale price: $1,825,000 The sale now holds the Bridgeport, CT record for the highest price per unit in a sale at $228,125 per unit.

We are currently living in a home that my parent's paid for in cash.