@Stephen Fleming your cashflow probably won't be what you think it will be:(Have you factored in the new property taxes at homestead millage rates?

How is it a tax strategy though?

I am about to graduate college in May 2025, and will be making about $120k (pre tax) in my full time job postgrad (Washington DC area).

Hey Christine, I might be biased, but you could look into Cleveland, Oh.Here are a few things to consider against investing there:- Slower appreciation compared to some other markets- Harsh winters, which can lead to higher maintenance costs- Many discounted single and duplex might need repairs or updates, especially if the previous owners haven’t kept up with maintenance over the years- Some local regulations to be aware of (nothing crazy, but worth noting when trying to close deals).But there are also some solid reasons to invest in Cleveland:- Affordable properties in the $100K-$300K range- Strong long term rental market due to a high rent to price ratio- Landlord friendly laws overall- Potential for great cash flow- Opportunities for Section 8 tenants- stable market once you have the right team in placeEvery market has pros and cons so it comes down to your budget, risk tolerance, and finding a reliable crew you can trust.

The 1 mile income radius could be misleading in either way to the positive or negative if the property is on the right or wrong "side of the tracks" so to speak.The 80% occupancy, if it's solely due to the mismanagement of the current owner could be an opportunity. 

While I don't object to spending money to do one's due diligence, I don't know if $500 is called for when you can get very high quality syndication groups/meetups/information for free.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Be clear that you are terminating due to breach of contract, and they have no right to penalize you.

I don't see them showing up or paying any of the back rent that's due to become current if they wanted to stay.

I know there's seller finance and "B" lender that are good for the short term, but if a balloon payment is due say in 5 years, there's no guarantee that my DTI would be in a better place then I'd be stuck without funding.