That might take care of your mortgage and leave you with enough cash to get something else.Or......

Likely your tenant is already aware of this, but I understand its a sensitive topic and a big jump as well - if they've been a good tenant so far, it could be worth it to have a convo of raising the rent but giving a discount for them taking care of XYZ on your property/ies. 

Here's some hopefully, helpful cut & paste 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 Class A property in Class D area, what quality of tenant will you get?

I have had properties stripped in Memphis as well have to be uber care there and Jackson MS same thing.

I personally dont care for SBA loans as the terms and  such are something i would not sign up for myself.Just stroke a check and then figure out it dont lose it because you cant get financing day one. ???

The best thing you can have is good section 8 tenants who respect and take care of your place.

PM me I will take care of you. 

Others 15 yrs, etc.So we depreciate a portion of the asset costs faster.We do the study and get dollar amounts assigned to different parts and different schedules to front-load depreciation.Now you can get 5 or 6% of the value as a deduction in the early years...But wait... there's more.Bonus depreciation allows you to deduct a certain percentage of cost in the first year an asset is put into service.Anything that is on a schedule of 15 years or less...So the doors, sidewalks, HVAC, walls, latches, curbs, security, gates, etcA % of this stuff goes in Yr 1.For years 2015 through 2017, first-year bonus depreciation for these items was set at 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019, 0% in 2020.But then the Tax Cuts and Jobs act moved this percentage to 100% from 2017 to 2022 and 80% in 2023 and 60% in 2024.Its not uncommon to allocate 30% of an asset cost to items that can be depreciated on a 15 year or faster time frame.So now 60% of that 30% of your asset's cost can be depreciated in the first year, excluding land.Pretty great.This is how real estate owners, investors, and operators make millions and pay very little in taxes compared to W2 employees.They pay even less and can offset other types of income if they are an RE Pro.

With a budget of $130k I would make sure that you still have at least 6 months of reserves after the purchase.I would also be careful in certain areas where the cash-flow looks too good to be true..

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