So you bought for $103 and walked with $86, or a $17K loss.  

The property should have positive cash flow of ~$12,300 / year (not counting any paper loss - but I calculated this at $1,300 for year one). 

Buy on a big enough discount to allow yourself to sell quickly and with minimal to no loss would have to be the most favorable in my opinion. 

You may have a loss in revenue, but you can mitigate that by acting swiftly to re-rent.

Heres my thing though, earlier this year I quit my job to run my retail store business full time so now my tax return will reflect self employed income where losses may be reported.

Due to the frequency of moving around in the military and maintenance costs, it is very hard to show anything but a loss in tax returns lol.Long winded, I know, but any thoughts or advice would be appreciated!

I am seeing the market begin to slow from job loss due to falling oil prices. 

You do not want to get in a situation where one investor owns the majority of properties and controls the building and can force the remaining owners to sell at market price (regardless of loss) to convert the building into apartments.Gavin

Gains in QQQ wiped out by losses in XLE.

If a tenant fails to give proper 30 days notice, when does the clock end for loss rent that I can charge them?