I currently own a 1 bed 1 bath single-family house as my primary residence. Purchased in 2015 for $57k seller financed. I renovated it down to the studs. New kitchen and bathroom. I refinanced it into a  5% 30-year mo...

Thoroughly analyze properties and locations to identify opportunities that align with your investment criteria.

While you likely won’t owe taxes due to the loss, filing is still required since the rental property is located in Missouri.Kansas (KS): As a Kansas resident, report the rental loss on your KS state return (KS-40) since Kansas taxes your worldwide income, including out-of-state rental activity.Tax Impact: The rental loss reduces your federal taxable income and may lower your overall state tax liability.

Just want to drop the message here, anyone located in Dubai or distanced managing properties there?

I tried to do a cash out or heloc on this house but it couldn't be done because of the price it was low. the house is located in Rockford il, planning to buy in Rockford as well since I live here.

I would say markets are going to start "correcting" and it will vary between location and product type.

If you stay in Northern Minnesota you could look to locate closer to Duluth which has a large supply of duplexes at prices much below $500K.

How valuable is this location in that market? 

But it's not that complicated, just buy in good locations and your risk is very low. 

Over this time I have acquired my contractor team and have vetted them through my job as a property manager, figured out my strategy(Off Market/Deep buying) and location.