The typical income from a free and clear rental would probably be $800-1500/month - and on a financed rental probably $300/month on a good day in today’s market.  

However, due to high property costs in our local market, we have been exploring opportunities in more affordable states, including Texas, Pennsylvania, Michigan, and Ohio.

I still think it is a good area to invest in despite the increases in cost.  

Feel free to reach out to connect.

Again with tax auctions, some kinds of tax auctions are referred to as a "free & clear" sale.

Feel free to private message me with any additional questions.

I would tell people today that if you buy a primary residence expect to stay in that home for atleast five years, especially with a FHA loan which has lower down payment as the current forecasts for home appreciation or very low which with closing costs on the buy and sell, it will take several years to have equity in the property and enough to be able to sell, so that is something also to consider.

Then you subtract your expenses: (1) Fixed cost: property tax, STR insurance, utilities, landscaping, etc

Also, you can't know how the cost of materials could fluctuate over your project time, so consider purchasing any materials upfront so you can stick to your budget. 

WHAT IS A COST SEGREGATION STUDY?