I also wouldn't touch hilltop with a 10' pole. struggled. old homes, over budget renovations, lots of issues. realtors push people here since it's the only place cheap houses close to downtown can be good but homes are 1900-1920.

What is as important is that you require the insurance to be issued with you as the landlord as "additionally insured." 

There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues.

The issue with section 179 expense is that you normally have to operate at positive income.Under most circumstances, bonus depreciation is better since you can take bonus depreciation even if you operate at negative income. 

I would not do this, if you don't look at the property you might buy something with a bunch of unforeseen issues.

It wasn't fun living an hour and a half from work and play, but absolutely worth it.If one is starting with relatively low living expenses, cash flow can be extremely powerful towards reaching financial freedom.

Your biggest issue is that $50k may not let you get a nice house and have any reserves.

Other than that the raised slab should be an issue and you’ll have to keep the new building offset from fence line.

Let them know that they may wish to look for another place if that is going to be an issue.

I would love to hear from fellow seasoned investors who can relate to my sentiments in our current economic and real estate conditions.