Someone else paid $27,000 for you because they felt for your situation.

Would I still be able to cancel for a situation like this due to not having enough funds and get my earnest money back? 

Is this more of an income tax strategy?

Sorry...way way too many questions for me.Every situation different.Probably not enough spread in most cosmetic flips....probably need the full meal deal.Also that cuts out much of your competition if you can handle more.Older and cheaper probably better depending on where you buy.Be ready to act quick, be conservative on your ARV and plan on about double whatever you think your time on market will be. 

As you step into the world of real estate investing and begin shaping your investment strategy, it’s essential to focus early on two often-overlooked foundations: tax planning and asset protection.

I have heard both 2 or 3 stays minimum for some weird definition of average, but one 6 day stay is average stay less than 7 days.Note any tax savings is really a tax deferral.  

From a tax perspective:Rent and Refinance: If you rent out the property, you can deduct expenses like mortgage interest (once you refinance), property management, and depreciation.

I’ve been seeing more investors use asset utilization loans lately, qualifying based on their liquid assets or portfolio instead of income or tax returns.For experienced investors or self-employed borrowers, this seems like a powerful way to unlock equity and keep scaling even when write-offs limit income on paper.Has anyone here closed a deal using this type of financing?

That means depreciation recapture applies on your share when you report the sale.This is one of those situations where it’s worth having a CPA or tax attorney review the deed to confirm how title was structured, because that detail drives the tax treatment.

NJ is great market for it,  my wife and I got to Fi leveraging house hacking strategy and I now I help new investors get on the fast track and avoid the "Stupid Tax" I had to pay.