You could even rent it for a while from Mar 2020 onward if you wanted, and you would still have the option to sell without capital gains tax as long as you did it before Mar 2023.My gut says your could get a better cash-on-cash return and take on less long-term risk by selling the home and reinvesting in another SFH or small multifamily. 

@Caleb Callahan  Not sure about Texas, but in parts of BC they charge a tax (a large one) if the homes are vacant. 

Yet your taxes stay the same at $20,000 because only $100,000 is subject to tax as the $2,400 in net operating rental income is tax-free (technically they would decrease due to the passive loss which I'll touch on in a second).

Just a bit about myself:I'm originally from São Paulo Brazil, where I attended to law school, I was an intern at a law firm and criminal attorney for about 6 years.

Pay close attention to Real Estate Tax as you run your numbers on property opportunity. 

80 Yr. old duplex priced at ~$110,000 (reduced twice since December of last year, initial price listed at $135,000)Each unit is 1 bed/1 bath, total square feet living is about 970Taxes in 2018 were $515On the website it shows property tax as $43/mo and home insurance as $52/moAssessment was about $4,500 (why is the difference so large from listed price?)

You would have to pay franchise and excise tax as an LLC unless you waive your liability shield and become an Obligated Member Entity (OME) which defeats the purpose.What is your goal, to protect your personal assets?  

This can help decrease capital gains rate and the percentage of Social Security subject to tax. 

If you're seeking out a property to improve and re-sell for profit, that's ordinary income tax subject to SE tax as well. 

IRA and 401k are subject to this tax.Leverage generated UDFI (Unrelated Debt Financed Income).  401k exempted when debt is secured by real property.The tax paid when either of the above types of taxable income are created is UBIT (Unrealated Business Income Tax).