A good title company can help you spot liens early and save you from costly mistakes.

Here are actual numbers that I have on a 1 bed condo in Dallas I personally own and have kept for around 5 years:Rent: $1000Taxes: $157 (both county and ISD combined per month)Insurance: $94 (Travellers, im sure you could shop around and do a bit better)HOA: $200 (includes pool maintenance, water, 1 covered parking spot, and exterior maintenance) Cash Flow: $548 Even if your rent was $900-$950, which is quite low for a nicer updated unit, you could still walk away with $450-$500 a month.

Newton's law of tax: What goes down must come up.Everyone enjoys the sweet benefits of bonus depreciation, but what happens when you sell?

Your gut feeling here is spot on.

The key is finding places with year-round demand drivers (universities, hospitals, corporate hubs, outdoor recreation, etc.) rather than seasonal tourist spots only- Cash flow vs. wealth building.

Some investors in your spot will look at pulling equity through a cash-out refi or HELOC instead, since that can sometimes be viewed more favorably by lenders and still gives you the same tax treatment.This post does not create a CPA-client relationship.

If you do not have a great contractor and system in place - you can end up in a really bad spot. 

I have dozens of clients that started in the exact spot you are in, all doing very well. 

or - you leveraged yourself to the moon and depleted your savings to $0 to buy a duplex in a more challenging neighborhood without a team in place to get that sweet "cash flow" and ended up negative every month and then both sets of tenants moved out and one destroyed their unit and you sold as a massive loss and gave up on RE. not success!

Once you have that, it’s much easier to spot a good rental deal no matter where you invest.Are you leaning more toward cash flow or appreciation for your first one?