That said, I’m assuming that someone must be buying these wholesale properties.  

Check with your municipality about how property taxes will change when you buy the place.

Are the other properties you're buying in/around Macon? 

I've considered going Dave Ramsey and buying a house with cash and upping my budget to $100k in a smaller market, but that would blow almost all my savings, and $100k just doesn't get you much anymore.

People were falling over crazy to buy anything and driving prices up.

What's up everybody Me and my wife are looking to buy a house out in Suffolk.

Investment Info:Condo buy & hold investment.

If so, they can sell within 2 years and not pay capital gains taxes on the sell of the home.They could take that money and buy multiple rental homes in other areas if they wanted, or use the money to downsize in to a different home while still having money left over.

This is not a one size fits all answer, but bad debt is non-asset based or depreciating assets - , credit cards, medical, buying dumb stuff.Good debt is debt used to make or grow your portfolio. 

Investment Info:Single-family residence buy & hold investment.