So I always try to plan ahead, triple check my due diligence, and be VERY conservative with my underwriting.

Is it a tax write off?

Maybe your situation is different and if you don’t feel comfortable in the neighborhood then this may be a moot point anyway.As for FHA, my understanding is that you must intend to live in the house for a year  it sounds like you did intend to, but due to unexpected circumstances- lead exposure and unexpected unsafe neighborhood- you have to move.

It was under contract when I inquired about it but fell through due loan issues.

@Nathan M kieferI recommend that you get professional financial/tax advice.

I also am sure to collect W9's from my contractors to make sure they don't try to not pay taxes on the money I paid them to get over on me that way.

The job market is strong due to major companies moving and developing here like Intel, Amazon, Google, etc. and there's a steady population growth and strong rental demand.

And easy to add up the expenses for each property every year when I do my taxes on turbo tax.

From the local Phoenix are folks it seems like LTR is the route to go due to competition.

Then I have to file a tax return for my LLCs.