.#2 have/know well six trades for every major....so six masons, six HVAC, six framers, six foundation guys, six roofers. 

Plus there is lots of potential for appreciation because of the major companies developing here.

Is it OK for the operating company to claim depreciation for the properties that are owned by the holding company.This situation could cause major passive loss issues depending on your situation.Scott Smith has refused to weigh in on this “difference” and has since referred me to a CPA who is so busy that I won’t be able to speak to him on the phone until May.    

Deals are everywhere, All the best  Agreed for those that want to risk D class inner city rentals there is never a shortage of those in any major metro that I have worked in from  Chicago , Cleveland, KC  Philly Balt  jackson MS Birmingham  St.

We have it listed for $184,900, and it seems like it could work either as a rental or a quick cosmetic flip.ARV: ~$235K based on comps in the areaRental Potential: Estimated rents around $1,700/monthCondition: Cosmetic updates needed but nothing major from what I can see.

Your major obstacle is going to be finding deals with no money for marketing. 

What’s little know is that Washington recognized in the land he surveyed that certain parts of that land had potential for development, while the majority of the estates had less or even little potential.  

If there are issues with these items are these major red flags?

As Erik said below, you could use a form of delayed financing on the cash purchase to pull the majority of your equity out and have for another property. 

For example, while I am a remote provider originally from New Jersey, I find that I can be particularly effective for clients where I'm located here in Oklahoma City because I hold the majority of my investments here and cut my teeth doing my own books and taxes in OKC.