We are also reviewing a company that can use it to scan bank statements and tax retturns to quickly sort where money is spent and if documents are fraudulent.

The big pro that sticks out to me in Birmingham is the tax rate. 

Just guessing the numbers.If we put down $400,000 together with an interest rate of 7% (it could be higher), then im guessing the monthly mortgage with insurance and tax would be around $3,886.If each unit rents for $1,500/month: Total Monthly Rental Income: 1 , 500 × 4 = 1,500×4=6,000 Monthly Expenses: Mortgage (PITI): $3,886 Maintenance/Repairs: $500 Property Management: $600 (10% of rent) Vacancy Reserve: $300 (5% of rent) Total Monthly Expenses: 3,886+500 + 600 +300 = $5,286 Monthly Cash Flow: 6,000−5,286 = $714We split the profit in half so each person takes $357 a month..How much should we be profiting from this in order to make it attractive to jump in? 

.📌 Where to Find Them:DOB NOW & BIS databases (NYC’s violation tracking systems)Foreclosure & tax lien auctionsDirect outreach to struggling property ownersStep 2: Negotiate the Purchase Price 💰A building with violations is a financial liability for the seller.

Warning:If you depreciate a property down near zero and then have to sell your property at a loss during a situation of distress...You could end up giving all the proceeds to the bank AND owe the IRS a big chunk of money for recapture.Long-term tax planning with real estate needs to be coupled with risk management and making sure you don't lose any properties.

I purchased my first investment property through an online auction for delinquent property tax.

How do you pay for the tax and insurance?

If it is to cash flow right now, then you're right you would be a little tight with your tax/insurance escrows.

It’s still relatively affordable compared to bigger cities, has strong rental demand, and no state income tax, which is always a plus.

I’m looking for ideas of how to do this, and any advice on how to protect my primary property along with paying low taxes.