Buying at the mortgage balance (~$150K) positions is under the fair market value and can trigger gift tax rules.

Since you're focusing on affordable markets in the Midwest and South, it’s important to verify rental demand, property taxes, and local landlord laws.

Assuming your debt is SUPER cheap and only costs you 12% you’ll save $22,800 TAX FREE  So the combination is saving $60k at 12% (or more) is $7,200/yr and $130k in the bank at only 4.5% is another $5,850/yr  so you’re over $13k GUARANTEED instead of a chance to make $7,200 before taxes  

I feel confidant that your knowledge and expertise will bring you much success in your market.  

Enough immediate cashflow to balance out the mortgage, taxes and insurance.

This will help attract more business to the state, keep it coming! 

The taxes are higher, the properties are older, however we account for those issues.

The city is still getting property taxes. 

I'd say the biggest landmine to watch out for is our property taxes.

Use tax benefits like depreciation, repair deductions, and tax-free refinance proceeds to offset income, and consider an LLC for liability protection.