The obvious advantage is property taxes.

We've owned this property for 15 years and only once had an issue with a tenant who claimed they weren't informed that it was oil and threatened to sue due to the added expense.

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. 

Even if you have a property manager the  injured party is going to claim you knew about the situation or should have known, so you’re equally responsible. 

And the IRS will ignore it for tax purposes.

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.

https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

Quote from @Tyler Fremarek: Many people claim you can invest with little or no money.

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.