On top of that there was an $8,000 tax credit, as an incentive since people weren’t buying.  

Any of these will leave you in a much better position for success, and provide a greater income while you learn.  

I'm not a fan of flipping simply because I hate paying taxes when I don't have to.

Before you close, can the rent from your buddy and the midterm tenant cover your mortgage, taxes, insurance, plus a bit extra?

I jumped into real estate doing the BRRRR method, understanding that holding property will allow me to build generational wealth, but then learning that landlord income is not the best way to feed your family.

The post was trolled and then moved from Tax section to Classifieds section by BP.... 

I learned so much from the course and PCS, and I'm claiming all of my cost on my taxes.

To make a new property cash flow with current prices, interest rates, taxes, and insurance, you're putting at least 40-50% down.

@Rae Chris Ann Arbor is pretty expensive, so difficult to find cashflowing rentals.You may want to look in Ypsilanti - if you want to stay in your area.Otherwise, Metro Detroit offers a LOT of options.Read our copy & paste below for some helpful info:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I imagine I can get his wages garnished or maybe collect from his tax return.