The next neighborhood over (literally across the street) is pretty nice, but falls in a different township that has higher property tax, and then the next neighborhood (about a 4 min drive and 15 minute walk) is much lower end, and while fine class C-ish area, you can't push rents much, and the village has its own income tax, so you will pay 2% of your net to the village...But back to first comment: take 4-5 days and travel to each.  

The obvious advantage is property taxes.

Congratulate them—they now get to file two sets of tax returns and pay the associated taxes for each.Confirm all of this with a lawyer if it bothers you.

The long-term strategy involves building equity, saving, considering taxes, and leveraging rental income for investments.

Entering the real estate market with $10,000 is not only possible–but it can be achieved through innovative investment avenues like FRACTIONAL Real Estate investing or investing in TAX LIENS - research these two options. 

@Richard NguyenHere are some of the downsides of putting real estate into a self directed IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds, and you must pay others to do repairs and manage the property.

I have a rental property which cash flows, however on my last tax return I had reported the rehab costs for this property as a write off.

If the current tax assesment values the structure at $300,000, you are allowed to do $150,000 worth of work.

I was told by my tax person that I can only deduct a percentage and not the total cost of the remodel.Thank you

Land doesn’t depreciate, and while buildings require maintenance, they usually gain value as markets grow, demand increases, and inflation takes its toll.Real estate investors benefit from a significant tax write-off based on the concept that properties lose value over time, even as their market value skyrockets.