Some additional detail / other thoughts:Low down payment as I'm looking to invest out-of-state for cash flow with the leftover capital.

We have no way of knowing if $1m is high or low without more details. 

Means you better learn everything bout Right of ways, utilities, building codes and tones more.. but hey.. if you don't learn those.. you will lose everything .. as REAL ESTATE is based on the land, the government laws locally, and every technical detail , laws, and technical jargon and fact including business law and contract law !!!

If you want to send some details to me, feel free. 

If you want more information, p.m. me and I can give you a lot more details.

Perhaps the investor is working under knowledge of the trust details after all.

I would also study in detail the landlord/tenant laws in the state you are investing, and see how easy or difficult it is get rid of non paying tenants. 

No.I’m sure Tim Swierczek can give you a more detailed answer but the best of my knowledge you can use 70% of gross rents to help qualify.

The IRS has just issued updated guidance on OZ's including the draft self-certification form (Form 8996).From a quick high level glance at the newly issued 74 page draft regulations it does appear that only capital gains will qualify (which confirms the position our team held) Our real estate team will be diving into this over the weekend and next week in more detail.

I already have a call in to my realtor to find out the details from the MLS listing.