I then look at area vacancies, economic conditions, employment opportunities, area demographics and verify that the property has not been red tagged or have any other underlying problems that might make it difficult to resell or rent.When I have my financial information then I can consider debt service and costs related to equity partners in the overall income produced.

If not, I recommend you take some classes before you get yourself into trouble.

If I'm looking to househack with my family (I had a toddler and a newborn the last time we did it) I might be interested in 1/3 of these neighborhoods, of which a few will absolutely produce some income (assuming you're number's aren't ultra-conservative) upon moving in year 2-3.

I would also recommend looking at cities close to Greenville, like Anderson, Easley, & Simpsonville as well since Greenville can be competitive unless you are looking at off-market deals.Also the non-occupancy tax would be based on the tax assessed value of the property and not the income it produces.

Anyone have thoughts on whether this is much trouble?

Note: This all pertains to the 2022 tax year and I still have a W-2 job which is the main source of my income.Given I've only owned a rental for one year (also my first home ever) and I'm very new to rental-related taxes, I of course hired a "good" tax advisor/CPA to help ensure I stay out of trouble with the IRS.

If I acquire property for $50K and seller finance/sell it for $70K (higher than appraised value), could I get into trouble?

When you start "picking" tenants or doing favors or acts of kindness for tenants is really when you can get yourself in legal trouble. 

It's mostly about making $ out of the world economy WITHOUT actually producing anything of value. 

Fed's "create" things by "making it rain" to create the actual producers to produce.