If you have to have that house to prove to all the people you know you're a big-shot investor, by all means, have that house, just don't pretend to yourself you're making a wise move.As for me, Thomas Stanley in The Millionaire Next Door completely convinced me that people who live in those nice houses in those nice neighborhoods tend to spend an awful lot of money they don't have to. 

BTW, the IRS will pretend you took it when you sell (and charge depreciation recapture taxes), so you might as well take it.  

Call for rent signs and craigslist ads and pretend to be a tenant and find out what other properties have in your area.

Let's just pretend that you somehow magically (you won't) get 1200 mo for this.... and nothing went wrong the first/second year (and that they took 100% for lease renewal on yr 2).1200-10%=1080x22 (-2 mo for PM) $23,760. (15,840 for 2 yrs if you use 800).Payments 1,184 x 24 (you're still paying all mo) $28,416. 

Pay down the loans, don’t pretend like you have money you don’t.

I had a nightmare tenant who put up security cameras so that when my process server came to serve him his 5 day notice for eviction he could pretend he wasn't home. 

They would much rather have someone be honest and up front with them that to try to pretend that they are an end buyer.

The llc can be used if you’re really worried about privacy, though it will take about a minute to figure out the owner if you transfer it a week or a month after purchasing.TLDR: get an umbrella that’s higher than your net worth, get the llc if you want to pretend to have privacy. 

Then pretend you are camping in the house, and move all but the bare necessities. 

I can't and won't pretend to be the authority on all areas of KCK, but I sold my C class property in Raytown to buy B class in KCK (just east of 435).