I assume they collect a proration every month for property tax?

Increase earnings, reduce expenses, save up, and invest.

I would rather earn $2000 per month at a 12% rate of return than $500 per month at a 1000% return.

Once you invest in a fund, you've relinquished the single most important control valve you have: determining what investments your hard-earned capital goes towards acquiring.

Plus with no state income tax, cheap insurance, and very low property taxes, I’m probably starting $20k ahead of most people, and that’s a tax free $20k.).

Zachary,Your concerns about Cleveland are valid—high property taxes and stagnant population growth are definitely challenges to consider.

Tax structuring and LLC advice you can get for a paid fee too.

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

You can hand them over all your information to organize at tax time and their staff should be able to organize everything and get your taxes filed.

Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC (you can elect to have a LLC taxed, as a S Corporation which is a whole other conversation).If you want to close in the name of a LLC, Mortgage Lenders will offer you Commercial Loan Terms (25-30% down, a 15-25 year amortization, and a ballon due in 5-7 years).