I want to build a home on the property to increase value at some point.

The increased depreciation deductions can offset your taxable income, including gains from the sale of the previous property.

To explore out-of-state markets, consider population growth, job growth, and diverse industries.

When I sold my properties, the price did not increase much (though there was still a slight profit, couple with the rental I had over the years and currency gain (bought when USD was low and sold when USD was high).

Purchase price: $430,000 Cash invested: $85,000I bought the property partially renovated on the interior, then proceeded to do updates to increase value.

The best way to get started or increase that flow is to go to real estate investor meetups (@Leka Devatha has an amazing one in Seattle) and also answer questions in the local forums without ever asking or offering help in terms of your business.

I'm interested in learning a bit more about typical vacancy percentages, size of the local population being serviced, reasonable percentage of effective gross income for expenses, etc. as well Peter.Hopefully some experienced member(s) will sound off!

Quote from @Jonathan Greene: This trend has been growing increasingly, but it's actually hurting most new investors.

Adding amenities like power, water, and a barn or pavilion could increase its value as an event space.Farm-to-Table Experiences: If agriculture is possible, create an on-site farm-to-table business where people can visit, harvest, and eat fresh produce.

In current market conditions, rents have generally increased, making house hacking a viable entry strategy.