I spent about 8 hours capping and removing water and sewer lines and putting a couple of doors back in and some plugs in the wood floor and suddenly I had a 3br house.

To protect yourselves, ask the sellers for written documentation confirming that the tenant is back-paying.

if so, you could hope to refi in 12 months, so your break even on the buy down is not long enough to get that money back.

Get the easy stuff first - rent roll and lease end dates, any bills the landlord pays - common area maintenance, maybe water, sewer, taxes, and insurance.

@Dylan RobinsonI don't think so, I think its just a matter of if the numbers make sense there isn't too much more to think about in my opinion without ending up in analysis paralysis.

Since I started renting out the house in May 2024 and will likely move out in 2025 after the leases for my current renters end, I have a question about depreciation.Can I depreciate the portion of the house that was being used for personal use, even though I was living in the house for part of 2023?

I ended up changing my RA, and so now they're handling mail.

., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

@Laura Casner, personally, I try to step back and think about why I am doing this, as others mentioned.  

The court ordered the tenant to pay back-owed rent plus interest. 2 years passed, and the tenant reached back asking to "clear up the balance."