I own a licensed gc company so if it is in a decent area I know I can add alot of value to it at a cheaper price since there won't be any labor or material markups.

@Kolby Knickerbocker, It can be a tough thing to give up an advantageous interest rate. 

But if the mortgage is 2k or 3k then I'll be in a tough spot. 

I believe this tough-on-crime approach will make Albuquerque safer and a better place to do business in the near and long-term future. 

Insurance companies are taking a close look at building materials, quality, and updates. 

When it was all said and done, our bad tenant cost us over $30k.The financial hit was certainly tough, but there was also the feeling that we had no control over the situation.

My question is, do I just use the heavily reduced price I was able to purchase it for since it was vacant, and then the material cost of what I renovated plus what things I did contract out, even though that basis would be way under what the other renovated houses that sold near me per SF sold at, or are you able to use similar comps to determine the depreciation basis?

Every investor has their own path, and hearing different perspectives will only enrich your journey.Challenges in Real Estate Investing:Finding deals: In competitive markets, it can be tough to find good deals that make sense financially.Capital and financing: Finding funding, especially as a new investor, can sometimes be challenging.Dealing with tenants: Managing rental properties and dealing with tenants can be tricky, especially with issues like late rent or property damage.Market risk: Real estate markets fluctuate, and external factors (like economic shifts or local development projects) can impact property values.I’d be happy to continue the conversation if you want to dive deeper into any of these topics!

You can cover the wire mesh with drywall patches (they tape on wall and across the wire, white/paintable, different sizes) as the wire mesh is what will prevent the rats from eating their way into the property (the covering material is cosmetic only).

The market is tough for everyone, new and experienced.