I control the price I buy at (equity gain at the buy), I can force appreciation on my own terms, I get the monthly cashflow, I get direct tax benefits, appreciation and loan paydown that directly affects my net worth since I own the asset.

However, these costs can often be added to your property's basis, which helps reduce capital gains tax when you sell the home.Once the property is officially a short-term rental, subsequent repairs and maintenance would likely qualify as deductible expenses. 

I would echo what others have said - 100% start locally because you need to gain an appreciation for what it means to be an investor, understand the lifecycle of a deal and be on the ground to observe what's going on with renovations etc.

The only silver lining is this property performance so bad, that it helps offset the gains from my other 10 homes. 

It the accessment is too high and the real estate taxes as a result are too high, the net will be less. 

But it would give you time to save up for the 20% on a refinance in 2 years or give you the ability to use any equity gained to refinance in 2 years.

I know this might seem insignificant to experienced investors, but I just got the appraisal back from the bank this week and have access to about $145K in a HELOC so I'm creating CCCs around this number. 

Centralized Document Storage with Access ControlHave a secure, centralized system to store, organize, and share all company documents (e.g., contracts, blueprints, reports, scanned records, etc.) while managing access permissions for teams and individuals.2.

Imagine a real crisis where they couldn't get the grid back up, and you couldn't access your accounts, etc.  

If draws, what’s the process for accessing them?