If the market is tough, I reduce the rent rate over the full 12-month term.

The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

Yes, the 1% rule is getting harder, but hopefully rent prices will continue to increase as they have been trending.

That said most folks have price targets and if large complexes are conceding 1 or 2 months on the 1st year lease, itll put downward pressure on your rent to some degree. 

You can buy and rent anywhere.

Loss of Use / Loss of Rents: Normally, there is a 20% included limit.

Those houses could rent anywhere from $1,600 per month to $2,000 per month. 

This specific deal was a close friend's apartment that he was renting.

How much will the increased cashflow supplement your anticipated SSI?

I would slow down and think about your BUDGET, what you can get for $30k, and how you can increase your income.