Another option is to invest in the market instead of paying down a mortgage.

Wealth-drivers are appreciation, debt pay-down (ie. principal payments) and tax shielding.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases: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+ (roughly 5% probability of default), 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 (around 10% probability of default), 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.

At this time, I am having to pay all cash in order to close.Purchase price is approximately $600k.

Market timing, properly acquired property, personal capital available How did you find this deal and how did you negotiate it?

I can do that for you if you are properly prepared with reserves and credit.

The reason is that one wants to be able to properly avail themselves to the laws and protection of the corresponding state where the property lies.

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

The only thing in that county is that I pay a higher property tax rate as an investor vs. a homeowner. 

@Jordan Meltzer unless you find a screaming deal - a Class A property won't cashflow for 3-5 years.Class B: 1-3 years.Class C: most investors don't properly understand the risks, so should stay away from them.So, you may need to deal with negative cashflow, but plan on appreciation increasing your wealth.