where do you operate? 

We did a bunch of research on where to purchase a turn key property with management in place.  

Go peddle your wares some where else.

Where are you thinking of investing?

Your question has been debated between BP tax experts both privately and publicly, for example here: https://www.biggerpockets.com/forums/51/topics/819991-expens...And we ended up where we started: no consensus and no clarity.There have also been court decisions that support my interpretation, even though I personally find these court decisions debatable.

@Mark Sullivan I'm based out of Rhode Island so not sure if my providers lend where you are located.Biggest thing here, I would look for a portfolio lender.

@Scott Stamps  I'm skeptical of many of these programs but for sure I'd pass on any 'guru' programs where they are struggling to keep their own deals afloat, as ODC is. 

Section 8 can be a solid strategy, especially in cities like Detroit where the rent-to-price ratios often make it worth considering.

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

**This post is a factual breakdown of the situation and where we are currently at.