You can also write off expenses such as property management, insurance, repairs, etc.

They use more expensive subs because they don't have to manage the project. 

I stopped buying because the market became too expensive and competitive in my area at the time. 

But, given that he has a primary residence there already that he must leave (Army doesn't give much choice on location), if he isn't able to sell the property quickly for at least break even, and can't take a deduction for a loss, my thinking is to flip it to a rental (question is which kind makes the most sense), he should be able to cash flow given his monthly expenses, even if only $100/mo, then if he still sells for a loss in a year or two, he could take a deduction.  

From my experience working with over 400 investors, financing your first deal with minimal out-of-pocket expenses is entirely possible, you just need the right strategy.

They are expensive.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 4-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

The problem is that your debt payments are going to basically wipe out that $400K profit unless there is room to increase revenue or reduce expenses.

NY Property Taxes, and utility expenses was one thing keeping us from generating a higher cash flow from rental properties.

Guests are used to cleaning fees, so adjusting it to match the actual expense is reasonable.It’s also helpful to check comparable listings in your area to see what other hosts are charging.