I am under the impression that at a capital amount ($1k - $5k) this low, one is only able to possibly purchase tax liens/deeds.However, I see YouTube ads of investors who state that $1k in a rural area perhaps, could purchase you a multi-family unit (i.e. duplex) that you may have to live in due to the loan requirements (i.e. rural development loans)What are you guys thoughts?

How much of the profit will be due on my taxes (generally speaking)?

You got really high property tax though.

Ramping them up to speed on the local market, costs (insurance/taxes/property prices etc) and contracts.

If it were payable by you (taxes electric fees etc) that would be different.  

There are no tax returns, the beaches, personal income, or DTI!

The tax basis is zero.3. 1031 for another real estate asset class that becomes the basis for a retirement portfolio on a more accelerated basis.I realize that there are a number of personal considerations nested in these questions, but in broad terms, we want to yield the highest value of the property to both provide for our daughter and to defray dependence on our equity investments as my retirement won't be playing golf but shifting from being a full time CEO of a mid sized growth company to becoming a more active investor in real properties and other pursuits (rebuilding motorcycles and remodeling houses).I would appreciate the wisdom of the forum as by my lurking here it's clear that I am a rookie in this arena.

On top of this, my understanding is that this money wouldn't count as income, so I'd avoid income tax on my half of the proceeds.

Underwriting for the assumption portion said they cannot consider rental income that doesn't have a documented (tax return) source. 

See your cashflow, mortgage, taxes, interest and expenses in one dashboard - basically be able to estimate my ROI and review something on a regular basis, plus for tax purposes, as I am trying to get the groove on taking pictures for each payment or doing this through the bank4.