Usually the numbers don't work to build in these neighborhoods, unless government tax credits, etc.Do you see the problem with your two statements:"The turnover costs could/will be high"and"How much more damage could they do?"

You are so right about analysis paralysis 😁Not too concerned about mechanics though I would like to learn more about how to best use CRMs (specifically freedomsoft), but also would like to learn specifics regarding forming LLC structures and tax strategies 🤔

I have a confession: my only duplex, which I gave owned now for 2 years and recently moved out of from a house hack, has proven to cost me more to maintain/pay taxes/repair/fix etc to the point where my cash flow is close to zero.

If you aren't familiar with Baltimore, I would suggest it's a hard no and say that you are trying too hard to make cash flow happen talking Baltimore and tax liens and auctions.

How does this look from a tax perspective.

How do we minimize taxes on the profit we're making on this first home? 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I'm starting out doing redeemable tax deeds and going to auctions where everybody has "bigger pockets" than I do.

I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require  PMI which is an additional expense, and you also need  bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.

Assuming this is an 8 cap neighborhood you'd have a ~$420-450k value within a year (unless property taxes are crazy high) when leases would renew since it'd be valued as a commercial building with the office space.