If you're buying for $30k, I would assume you're doing Section 8 rentals.

Quote from @Jon Taylor: @Pete Harper - Section 721 of the Internal Revenue Code allows an investor to exchange property held for investment or business purposes for shares in a Real Estate Investment Trust (REIT) without triggering a taxable event.

Strategies like rent by the room, mid-term rental, short-term rental, assisted living, and section 8, are ways people are making it happen.

Currently rented Section 8.

Utilize a 1031 Exchange: Under IRS Code Section 1031, you can defer capital gains taxes by reinvesting the proceeds from the sale into a similar “like-kind” property.

It was in fairly good condition, and I KNEW I could easily lease it out, or lease sections to various business, or sell it for double or triple what I paid. 3 years later, having not even received an offer to lease AT ANY PRICE, I sold it for $25,000 LESS than I had paid.

I've had a 2family house in the greenville section of jersey city for the past 10yrs.  

go to Barnes and Noble or a library and look at their real estate section. 

It’s taking Seller a while to provide the HVAC report but while time passes after due diligence - Flooring cost is way too expensive at the price point they’re asking for 130K + Care of property never took place till decided to sell so I’m not comfortable any longer - Home sits on corner lot on a slight hill with crawl space - Lots of weather changes has caused the home to settle + improper supports needed. 

The banking industry is very competitive as there seems to be a bank on almost every corner.