I actually had my insurance agent get me a quote before I even called my real estate agent to setup looking at it.All this said, do your market research and you will find a great cashflowing properties if managed properly.

This applies to current year tax deductions, and you can also employ a “look back” cost seg study where you can retroactively reclaim any missed deductions from previous tax years.By filing a form 3115 and calculating the proper 481(a) adjustment, you can recapture and correct any erroneous depreciation in prior years and claim the difference in the current tax year as a lump sum.

I just want you to have proper expectations.

Were they properly screened?

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Now, your numbers change.The math isn't difficult, but you need to know the proper math in order to make a decision. 

If you are okay with the lifestyle, do it again.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I don't know how to run a skip trace and don't know the proper software that people use and in Florida, some people do not take kindly to knocking on doors :)Thank you!

Take ownership of your mistake and learn to do the proper due diligence recommended above😊