You will have income (rent), but then you'll have expenses: taxes, insurance, repairs, turnaround cleanup, eviction/attorney costs, vacancy factor etc.

Net Income: 100k~ depending on overtime workedHere is a breakdown of the potential property we would be looking at buying as a long term investment. 3 Bedroom, 1 Bath, 1000sqft, attach single car garage, fully fenced property, needs no work and would be in a state of immediate ready to rent.Purchase Price: $289,90020% Down payment: $57,980Mortgage Rate: 4.5% Amortization: 25 YearsProperty Tax: $3185 annuallyBi-weekly Mortgage Payment: $592Rental Details:Monthly Rent: $2600Mortgage: -$1184/monthProperty Manager: -$260/monthLandlord Insurance: -$105/monthProperty Tax: -$265/month15% Put Away: -$390Leftover: $396Does something like this make sense to jump on?

Tax BenefitsSan Diego is an expensive market.

Make sure you're paying attention to taxes and insurance as well!

How would that work out on taxes if I’m the one that owns it, but they’re the ones they get the benefit from it?

Ca at tax sale. but you have to sift through 2 to 3 thousand to get those..

This is why we buy only in the suburbs of Milwaukee, even though prices are higher, but taxes are lower and overall you have better demographic pools to rent to.

. - the appraised value is super low, if you get what you are looking for, I would expect those taxes being significantly higher putting more pressure on the cap rate- it’s a beautiful, unique property.

They're spending tax-payer money, so they'll cut a check without batting an eye.Document condition before and after with photos, inspect regularly, and you should be fine.

A lot of the tax deed auction houses I see need to be demolished.