Focusing on generational wealth is probably not your best prospect.A better focus might be running the property in a professional manner, maintaining the asset value of the property through appropriate repairs and upgrades , learning some best practices for management , and having enough cash reserves to keep the property from being seized by the bank in lean times .

Our lawyer got written confirmation from the city they would not enforce the setback requirements, since the sign was legal before and only their desire to annex land changed the situation.

Note too that in Wake County, unlike decades past, there is no meaningful "foreclosure discount" (defined as the fact that winning courthouse bid prices were generally (historically) much lower due to the forced sale feature of NC statutes and Deed of Trust Power of Sale clauses) and this is confirmed by a recent Fannie Mae study. 

And thanks for the confirmation the pics in front of the house.

You should have at least 20% for the down payment and 6 months of reserves. 

Definitely see what's going on with the COA and make sure they have all of their ducks in a row with regard to reserves and proper budgeting...Most don't.

With any strategy make sure you have enough for reserves.

Lucky I did as the poor person who responded confirmed that her identity was stolen.I have another rental and a prospective tenant and want to see if there is a way I can verify her identity.  

I tried to look this up online but cannot find any information to confirm or refute this claim.

Sounds like we need to confirm this assumption of it being classified with a lender instead of assuming it will.