One thing is for certain:  The basis in 2025 or 2026 will be a better starting point than 2022.  

Basis is extremely important in these entities and if audited can and will come into question. 

The math is obvious but there's a natural tendency to go for properties you can obtain at a lower basis.

I've checked daily for the last year or two and its slim pickings over here!

The improvements will go towards your depreciable basis.

But for me sets me back few years on my goal.I also think he lacks financial knowledge to see that something is out of ordinary and should not be used as basis for future returns (e.g. low interest rates of 2022 resulting in low cap rates).

At your age building a nice cash basis is a great idea. 

The first indication is you spent $290k for $1800 cash flow or a 0.62% monthly ratio.Rent $1800 - PITIH $1480 - $180 (pm) - $90 (vacancy at 5% which is lowest i ever allocate in my underwriting and likely low per the OP description of a lot of new development) = $50 for all other expenses.Maintenance/cap ex on 4/2, 2100’ will exceed $300/month even in cheap labor markets on sustaining basis.  

Don't know about anyone else, but I feel like my personal daily battle is between doing what is urgent and fuels my raging undiagnosed ADHD, or what is actually important.I've done a ton of work on this over the past almost 4 years, and still am nowhere that I think I need to be, but I'm at least getting to a level of awareness I don't think I ever had before and that is a win in my book.  

Sometimes looking at properties solely on the basis of current cash flow can be short sighted.