Thanks for the post, I recognize older buildings bring surprises.

Some states, such as Nevada, are extremely restrictive and do not recognize a difference between consumer and business purpose loans.

if a PM has a % on repairs or rehabs, higher or lower or even doesn’t have (but its vendor recognize a 10% under the table) their interest will go thru bringing and finding repairs to do.If PM will be in charge of the finance and keep the budget aligned, it wouldn’t be the one who handles/hire/have interets in any expenditures.

Our team recognized that it was in an area that was mostly MFH and was able to find that anamoly in the listing that most people would have missed.

The feds would recognize the IRA ownership and no tax on income would be expected (other than the separate UDFI tax at the IRA level).  

I don't recognize your name.

Furthermore, Texas does NOT recognize Dual Agency.When this transaction went South, the Agent and Brokerage really disclosed (by action) who they truly represented by reverting to solely defending and trying to advance the Seller's interest, to the negation of any consideration of the Buyer - who they also purported to represent. 

Sometimes it is better to stop the bleeding, but there are a lot more options at your disposal than just selling the traditional way and recognizing the loss.

It would be out of character to allow the individual to protect themselves via several laws much stronger than other states and do the opposite by not allowing one to represent oneself to buy/sell property or with legal agreements.

Maybe I'm too dusty to recognize a 'deal' this day and age, but $260k for a b- duplex that gross rents for $1900 doesn't strike me as worth even looking at.