I’d imagine it encourages more buy-and-hold strategies, since investors might want to avoid depreciation recapture unless they’re using a 1031 exchange to trade up.Would love to hear your thoughts.

Along with proof of funds $36k which I imagine will need to be proved on top of the cash to close.

Everything in the home is original and nothing has really been renovated since we've lived there, so you could imagine all the renovations there are to be done.

I can only imagine the stories and wisdom your family has gathered over the years.We don’t have much experience investing in California ourselves—just the occasional visit and some eye-popping Zillow browsing!

Imagine going under contract, dealing with the stress of the loan, contingencies, inspections, escrow, insurance, appraisal, etc... and not having to deal with a discount Redfin Agent?? 

There is a Mortgage Recording Tax of around 2.175%So imagine you buy a property worth $2 Million, put down 20% or $400k.Then you create another lien, say $500k.That will cost you $500k x 2.175% = $10,875.Further, if you really want to make this a valid loan, you would probably create a LLC, fund it the $500k, have it establish the new lien on the property, let it get paid the Interest.Now you will have to pay tax on the Interest and filing fees for the LLC and have a CPA do your Tax Returns.That might be worth it to someone, but to me, it's a little over kill when you can just get an umbrella policy for less than $300 per year that will cover you an additional $2 Million.

Shortly after buying there were several sales nearby that boosted that ARV higher than I could imagine.

I would imagine it really depends on the market.

Quote from @Michael Lazarus: Hey guys,I'm thinking about building something to help flippers get faster Proof of Funds letters.But i need some feedback..Imagine this scenerio...: You spot a great deal on Zillow.

Along with proof of funds $36k which I imagine will need to be proved on top of the cash to close.