Congrats on buying an investment property.

A month post closing, the son of the buyer (mother) has written a "legal" request to have us buy him a new refrigerator.  

I wouldn't have any interest in buying something like this to hold since it would be so far negative cash flow wise on a monthly basis.

Going through my real estate journey I have learned a lot, I am 24, a veteran and a graduate from Temple University,I started with aspirations of investing on a property and making a quick flip.My problem lied with fear of failing, my capital and my savings.I decided I wanted to learn the real estate market and know the ins and outs before I would make a bold choice on buying my first real estate home.

Secondly, I'd chat with a realtor and get some recs on lenders to truly see what you're working with in terms of buying power.

They are not buy and hold forever type properties. 

They will see a large pipeline of local deals, and they will buy some as rentals, flip others, and flip the contract (wholesale) a handful where it makes sense.

I'm in the same boat for reference- I bought into the "buy now, refi later" idea and am sitting on a 7.375% on my latest property acquisition and a commercial line of credit I have is at prime + 1 (so 8.5%).

Investment Info:Single-family residence buy & hold investment.

Future land appreciation in this area might outweigh any tax benefits from buying in other areas, with a better (tax-wise) ratio.Before pursuing your plan, talk to a real estate accountant to figure out if you can, in fact, benefit from cost segregation.