The intricacies tax planning with a rental are worth hiring a professional, even if you just do it once for an overview. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Quote from @Kyler Tarr: I am on contract to purchase an investment property in Ohio and the inspection showed the house has knob and tube wiring even though it was built in 1959.

Even if you rent the house for $2,000 a month, you will still lose because of maintenance, vacancies, and the expensive mistakes common with newer investors.You can borrow up to 70% of the equity.

However, the units I see myself living in all barely break even on cashflow.

For on the ground evaluations, I rely on local contacts: agents, contractors, or even property inspectors to provide walkthrough videos and detailed feedback.

Now they wont give us our money back even though they are the ones who changed their metrics on lending after approving us.

NJ is a big one—places like Newark, Paterson, or even smaller towns have better cash flow potential.

I will say that even though you get the boost from VRBO and AirBNB, the first year of operation is usually lean as you build up the rep.Offering a discount on the stay is a way to be more attractive but don't go crazy.

I believe in putting in the work—1,000 hours of research, testing, and learning—before offering advice, and I’m excited to tap into the collective wisdom of this community to refine my approach.Here’s where my head is at: I’m considering strategies like short-term rentals (Airbnb) for higher cash flow, long-term rentals for steady income, or even creative options like house hacking or partnerships to stretch the funds further.