Since Michael objected, I had to throw in some codes. :) Without going into too much detail on the tax code, we know that 1)  less than 7 days or less and 2) 30 days or less are two of the 6 exceptions to rental activity provided for passive activity purpose.

If you can find something in your market that negates your living expenses then you have more cash to throw at your debt and you've already begun your investing career.

Cops will talk to the parents, parents will talk to the kids, kids will find someone else to bother.Note: they may also decide to throw rocks at your windows.

he said he has 25,000 Into buying the home in 2008 and has made his money back multiple times over since 2008 as a rental but is tired of renters and fixing issues every 6 months or 3 months or year you know the story....so his offer to me was here you take the house I will even throw in 20,000.00 as repairs and updates are needed you ( being me ) do the work and when you are done we have it kisted...he then said he only wants his investment 45,000.00 back at the sale and anything over 45,000.00 is MINE?

I’m ready to throw caution to the wind now!

For smaller properties, an extra vacancy can throw the property immediately into negative financial performance. 

It might have enough appreciation to offset all the money you throw at the house in payments and maintenance, taxes, etc, but if you want to gamble with your money, there's better ways to do it.I think you need to start with goals and decide if this deal lives up to your deal standards.

But from personal experience, I'd might do a land contract in which the seller becomes the bank for a time, until  you satisfy the contract, and the deed is held in escrow by a title company.Another scenario is to have the seller form an intervivos revocable trust, put the property into the trust, and assign certain beneficiary rights to you, along with a resignation of trustee (assuming the seller becomes his own trustee) and a quit-claim of any beneficiary interest to you, all of which is held in escrow by your title company.Remember, you and your neighbor can be as friendly now as front porch cousins, but when you throw real estate and money into the mix, ya never know how it might end up. 

Im wondering if it is going to be like this everywhere and I’m hoping that a kind soul might be able to throw us a lead on a good place in a safe neighborhood for 2+ bedroom 2k/mo or less and we do have a 11lb poodle mix dog.  

Just throw a dart at a map of South Jersey.