Stay away from Philly as their laws are as tricky as NYC's.I would strongly recommend you purchase something within an hours drive from you so you can learn on the job as a landlord. 

Purchased a 4 unit property in Cincinnati (Avondale) 2 months ago.

I have an opportunity to purchase a mixed use property that seller is open to using partial seller finance.

Our long term goal is to purchase and move to a remote ranch and for me to be able to quit my job around 40 years old.

Has anyone made a purchase on MKE yet since this chat or purchased through ACE?

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

When you go to sell, you're subject to tax on the amount of profit between your adjusted basis and sale price, not your purchase vs sale price.Recapture is not repaying the depreciation.

I've been investing in real estate for 10 years and have purchased and rented 50 sfh's and duplexes.

Purchase price: $70,000 Cash invested: $60,000 Sale price: $70,000 Have under contract for $70K and will rehab.

Did I just not do the math right on my purchase?