Yep I know it- I've had multiple tax clients over the years face a mean surprise with that. 

I would say most of my clients who invest here are looking for the extremely high appreciation potential, which you will get when investing here.

MOST don't try to trick their clients! 

@Daniel GrantzRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

They are analysis tools that we use for properties in Reno, NV to help clients. 

Time horizon matters a lot too, talking to a client in their 60's wanting to retire is very different than someone in their 30's looking to build and accumulate wealth. 

*This post does not create an attorney-client or CPA-client relationship. 

.- When handling insurance on previous subto, we purchased new insurance, canceled the old insurance which was part of escrow.

With this being your first purchase, you may want to consider a property that's not being sold at auction. 

If your income grows faster than inflation, you'll have the $162 needed to purchase the basket.