Still, if the cash flow is very little, or even a bit negative, but you can hold on to the property for 4 or 5 years, you will gain an average 20% net worth on said property that belongs to you and only you.There is a saying I love in the stock market, but I feel it also applies to the real estate market:"Time in the market always beats timing the market"This is to say that if you hesitate and don't pull the trigger for fear of having "missed the boat" you could be missing the boat that is passing in front of you.So, to summarize, I would look at other markets, but I implore you to look for a good realtor who can provide more than just the properties.

Pull the trigger and don't be afraid to let go of a property if it doesn't make sense.

While it is difficult and time-consuming to get approved, the main issue is that the interest rate will run well into double digits and, to add insult to injury, you get taxed on the interest you're paying and you're forced to take a life insurance.

I say pull the trigger and include a Home Owners Warranty to cover all the mechanicals and appliances.  

from what i see you have to spend a certain amount of time per year in the bizz and i mean really in the bizz.. this is probably an audit trigger as well.. so if you get audited you need very detailed supporting documentation.the Advantages of course are for the many write offs that being in the business affords us.acquiring a RE license and actively work in the industry usually is the easiest and safest way to claim these write offs.

Insurance is generally the best way to recover in the event of a loss, but most contractors carry insurance that only covers property damage or bodily injury liability meaning even if you are successful and obtain a judgment, you are reliant on the GC to make good on a payment. 

If my new monthly payments are still below what the market rents are, id probably pull the trigger and save cash to buy another primary and rent out the existing.

In my case it does, so I pulled the trigger. 

The LLC just protects you and your assets from a injury claim from a renter. 

I also fear the possibility of injury (why insurance is important).