Paying those things benefits you because they facilitate STUFF exiting the house. 

This would end up getting you some tax benefits and extra cash flow that could help you leverage that into another property...maybe a 1031 exchange.

Quote from @Amit Chugh: @Tim Delaney - I was referring that one of the properties is listed as Section 8 Property, why one would list that in title, does it make any different or benefit for buyer or seller mentioning section 8 in title?

I'm very new to investing and weighing which options would benefit me the most.Option 1:  Use the cash as down payment on another primary residence and rent out the current.

Show sellers how working with you benefits them and how you can simplify their challenges.Respect Is Everything: Be honest, authentic, and reliable.

If you are in a decent area where appreciation is on your side, its better to bite the bullet now, hold, and reap the benefits in the near future!

Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

You’ll likely need to look beyond the city limits (in areas that are still close enough to the city to benefit from its local economic tailwinds) if you want to find deals that pencil out.

It will familiarize you with the basic terminology and benefits.

@Diana Teng there are a LOT of potential pitfalls:(So, it's vitaly important to not just find someone that you think you can trust because they tell you what you want to hear, but you find someone that their processes seem a good fit for what you want.EXAMPLE: we do BRRR Turnkeys for clients and take numerous vides we share with them - initial, worst state of any demo, when HVAC, plumbing, electrical update BEFORE walled in, before any major payouts and of course a final walk-thru video.One thing that's accurate from all the HGTV renovation/flip shows is that you should expect and plan for surprises!