:)----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The seller's LLC pays capital gains tax and depreciation recapture, while the buyer's LLC uses the purchase price as the new cost basis.

The risk is not including due diligence caveats in your offer, like inspections.   

I don't think I can ask the seller to evict prior to purchase, although that would be the best scenario.

Not including closing costs. 

Buying a second home to rent out is a solid strategy, but be sure you understand the cash flow, including mortgage, taxes, and potential vacancies.

Maintain - includes taxes and insurance?

. $220,000 is definitely a lower purchase price amount and really limits you on what you can buy.

If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

How much land is included?