Their strategy focused on targeting traveling nurses, a niche market with reliable demand.As for repeating the process in the same city, it's doable but requires careful planning.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

It has sat empty for the last 20 years but the current owners have completely gutted it, have bids from contractors they're willing to share, cost estimates etc. and have had lots of inspections done and so much pre-work with the city and county to figure out what they can and can't do, so a solid plan is already in place.

That all is changing now, ever since Hilco Redevelopment Partners purchased the property in 2020, and received concept and development site plan approvals in 2022 and 2023.

Where are you planning to invest?

The properties  rent is more under market than the others as well but I raised their rent a year ago and I plan on raising it about three percent again this year according to state law. 

Quote from @Matthew Samson: We plan to turn our current house hack into a long term rental.

I've started flipping houses in the HRM (currently flipping a house in Fairview that was purchased off market) and plan to focus on flipping to generate cash flow for the next while. 

This list includes a few:Lucid Motors with 2,200 jobsSilicon Valley Bank with 300 jobsRaytheon Missile Systems with 1,000 jobs in Southern ArizonaMicrosoft Datacenters with 1,100 direct and indirect jobsCarMax with 430 jobsInfosys with more than 1,000 jobsAnd Hopebridge Therapy Centers with 650 jobsOn behalf of the Arizona investing community, I invite you to plan a visit here and see what's going on for yourself!

For something more robust, tools like Excel or online calculators from financial planning sites might better suit your needs.Your ROI Formula:ROI = (Net Cash Flow ÷ Total Out-of-Pocket Investment) × 100For your scenario:Net Cash Flow = Annual Rental Income - (Mortgage Payment + 401k Loan Payment + Other Expenses)Total Out-of-Pocket Investment = $40,000 cash + $50,000 loan payments over 5 years.I came across a piece in Bloomberg recently discussing creative financing, and they touched on ROI calculations for multiple loans.Personal anecdote: A buddy of mine leveraged a 401k loan for a fourplex.