My ideal location is in the middle so I'm away from severe flood risk, but still 15-20 mins tops to downtown or the beach.  

@Brandon P.I use a mix of things and still struggling to find the best solution.All the solution requires to have a mechanical lockbox with backup key at location for lockout or contractor.

@Adam M.The cost for a real estate tax accountant will vary based on location, experience, education and other factors, just like any other professional.

@Joshua Bautista located in indianapolis.. i'm a 100% newbie at this.. but it appears that the winter times are quite slow in Indy..

.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

A mass shooting occurred tonight on the street next to the street where the property is located, leaving nine people shot and one dead.

I don't know where in Michigan you are located, but I'm happy to give advice or share experiences.

It would depend on your income, location and price of the home. 

@Ronald RohdeThe property is located in TX, near Houston if that matters.

Maybe if you had a good, secure location to store things you could pre-order stuff you think you might need for your next project(s) and stockpile it.