But I have to ask, is this unit attracting this kind of tenant? 

Quote from @Eli Fazzo: @Will Gaston for how many investment properties can you use this 25% exemption? 

i'd pick a market close by, or that you have a personal connection to, or that you visit often.chasing cash flow by itself can lead to negative outcomes - for example, these investors bought in supposed "cash flow" markets:https://www.biggerpockets.com/forums/12/topics/1215726-break...https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1137397-balti...hope this helps.

Was this strictly an investment for you or are you looking to owner occupy your purchase?

Personally never heard of this scheme or way to set up transactions. 

I got red tagged for using an handyman and not a licensed repairman when I started doing some renovations in Florida, and learned that each municipality has its own rules of engagement, ordinances, building inspector and so forth.

Some landlords also use escrow accounts for added security and transparency, especially if required by state laws.

David, this deal could work, but I’d want to dig into a few things first. 80% occupancy with long-term tenants is solid, but what happens if a major tenant leaves?

If there is equity can you use that to reinvest and come out better ahead doing something else?

. - Did you use the Mark J.