Thanks @Doron Rice I'm also interested in this niche.

And just like a home office - the more gray it is, the more sticky the IRS will be if they look.

There is a better way.Preventative MaintenanceOnce a year complete some or all of these tasks:🛠 Repair drips instead of floods🛠Change the air filter🛠Flush the water heater🛠Recaulk where necessary🛠Rinse HVAC coils🛠Test smoke detectors🛠Add missing doorstops🛠Adjust sticky doors/locks❄ Winterization📷 Snap a few photosFlip the script on inspections and deliver value instead.Why?

The only material recourse in a situation where a tenant is chronically late but ignores late fees is to non-renew their lease when it expires and take the late fees out of the security deposit (but this also can get sticky if there is damage to the property, and the cost of repairs exceeds the deposit.)

But as @Marvin Rice pointed out it would be profitable as a rental BUT only if you have good neighbors to watch it for you.

@Marc Rice I've spoken with a few property management companies in Myrtle. 

some things to consider:if you'll have reserves and up front reno costs from another source, you could 1031 that whole amount into an asset around a 1mil purchase price. but if you need some of that profit for reserves and up front reno costs, the 1031 will get sticky. there are lots of 1031 companies that can go into detail on this, but you actually have to start the 1031 process before you close on the property you're selling, so it might be too late to even do this. however, if you buy a value-add multifamily and do a ton of work on it ASAP, you might be able to do a cost seg study and offset some of the tax burden. if that's not possible, you may want to set aside whatever % of the profits from this sale for taxes. working closely with an investor-friendly cpa is so important. as far as choosing a market from that list, i personally go towards cashflow, but there are so many pros and cons for every market and time makes almost every deal a good deal, so if you're going to buy a hold forever, chances are in 10y any of these cities would've been a good pick. don't get too hung up on deciding between them, just be sure to pick smart in whichever market you land in. i'm also an out of state multifamily investor - feel free to text me if you need help :)

This is a pretty sticky situation.

With unemployment at a historical low, inflation remaining sticky and a Fed that is determined to slow down this economy I think it is a foregone conclusion that unemployment will go up substantially, meaning collecting rents can get harder.   

The achieved Sales rice was significantly higher to the expected ARV due to the fact that he executed such a high quality rehab and was not afraid to go big.