Thanks Mark,I'm pretty much an expert residential realtor with a lot to learn about buying investment properties.

Quick hypothetical question for Tax Pro's out there:If you have purchased a lot to build a home on, when does the one-year clock start to switch from short term to long term capital gains?

Probably not as lucrative revenue wise, but the tenant situation could be more stable because of the nature of the rental.All a lot to process - I like you insight of you usually end up trading one for another (specifically return for ease of tenant management.)

Originally posted by @Ramon Moreno:hey guys, just found out that my neighbor is being for closed on, the lady who owned passed, there is now a lis pendance, first mortgage for 123k, refi for 40k, and then another for...

I have a lot to consider and again, I really appreciate your input!

I recall land selling for a few thousand a lot to land there being worth 6 figures now.  2020 W McLean is a knockdown asking 625,000. 

If so, I think that's a lot to be spending based on your seed capital.  20% on an annual basis is more in line with what I'd recommend.  

Without it you are guaranteed to never make it happen. 4)Don’t take it too seriously – it’s a lot to lean and that is why people never really get in to it.Good luck!

It is very helpful and gives me a lot to research and consider for sure.

I don't have a lot to add, the advice from @Marcia Maynard is excellent.