If you are looking at this property from a residential and rental perspective, then it may work as long as you are willing to put your own income into the property. 

Commercial Property Rental: How viable is investing in commercial spaces for steady income?

Rent: Stabilizing the Property for Cash FlowOnce the property is rehabbed, the next step is to find tenants and begin generating rental income.

Especially in today's high interest rate environment, a low income buyer is usually going to be better off renting than buying.

It’s paid off, I would “like” to leave it that way & maximize the cash flow while paying down the heloc between the rental & other income.  

If enacted, these changes would bolster real estate valuations and enhance returns for investors.How Real Estate Outperforms Under Different ScenariosIf Interest Rates Rise (Higher Inflation):Treasuries: Medium- to long-term bonds lose value, potentially resulting in negative returns.Real Estate: Higher inflation leads to rent growth, boosting net operating income (NOI) and offsetting the impact of higher borrowing costs.If Interest Rates Fall (Cooling Economy):Treasuries: Bonds appreciate in value, improving returns.Real Estate: Lower rates drive cap rate compression, significantly increasing property valuations and returns for investors.Conclusion: Asymmetric Risk-Reward in Real EstateWhile Treasuries offer a safe haven, they also come with limited upside and potential interest rate risks for medium- to long-term maturities.

Right now, my focus is on leveraging my degree and skills to land a higher-paying job, increase my annual income, and ultimately grow my net worth.Real estate has always been something I’ve been interested in, and my long-term goal is to start investing in both real estate and retirement to build financial security.

If you pay two years' worth of property taxes in 2025 (January and December), both payments are deductible on your 2025 return, potentially reducing your taxable rental income significantly.

Throw your experiences in comments below; I'd love to hear success stories and/or horror stories!

Unlike banks, which offer limited loan options, brokers have access to a wide network of lenders, including niche and non-traditional financing sources.Here’s what they do:Assess your financial situation to determine your borrowing power.Compare multiple loan products to find the most favorable terms.Negotiate rates and terms with lenders on your behalf.Guide you through the application process, ensuring you meet all requirements.Example: Suppose you have a lower credit score or unconventional income sources.