So we shall elucidate five myths and truths about investing in them.Myth 1: Distressed Properties Are Always Money PitsMost people think that distressed properties require major renovations, which wipe out profit returns.

Taxes are high in TX with real estate, so put more money down to create some cash flow.

I wouldn't recommend an ADU and take that money and invest it where you can pull capital out faster. you can do much better.

Yes, they can dispute the charge and then the CC company will have to open a dispute that you will have to answer to attempt to get your money. 

@Yooni Choi managing from out of state (OOS) with ZERO previous landlord experience - probably won't go well.You WILL make a lot of mistakes that will cost you money.

Just curious.If you are going to pay a PM, just be aware that you might not make any money on it.I just use a spreadsheet.

A good condo board should be saving money for larger projects as they are known in advance (eg every 25 years you need a new roof). 

If so you should be able to cancel but if you are doing it out of the inspection period you are stuck and could run the risk of losing your earnest money if you put any down. 

So your super basic P&L may look like: $30,000 Rents-$3,000 insurance expense -$9,000 interest-$3,000 taxes-$8,000 operating expenses-$14,000 depreciation ----------------$7,000 loss on paper for the year  so negative taxable income But remember- $14k of that (depreciation) was something we didn't actually spend money on- so cash in bank at year end would be $7,000. 

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.