The user in question was subsequently banned from the forums for a second time, they reached out to me directly to dispute the ban but as of now the ban is still in effect for breaking the rules of the forums. 

And, 20 years ago, IF you were willing to break US laws, it had a good chance of working.  

Maybe yes, maybe no.Just don't break the laws of your area.Good Luck!

If the returns you can expect in that market don't make sense for what you are looking for put more down to make it break even/ cashflow or look in another market where you can find that

As others have mentioned, you will be able to take bonus depreciation, for certain assets, which won't be pro-rated.When you get the cost segregation study, it will break down the home into several buckets39 year property, 15 year property, 7 year property, 5 year property and land.The remaining assets will be pro-rated when it is placed into service.For example, a building placed into service in January will have a higher depreciation expense than the same building placed into service in November.Best of luck.

Initially the only person with a key was the responsible manager from the company but we found youtube videos showing how to break it - can't assign blame but something was not smelling good.

If the existing mortgages were at current interest rates, the P&I would be about 30% higher and the pro forma cash flow would no be much more than break-even.

I run the numbers with even 5 or 6% and they great but 7+ just not good Just to add... if rate alone is making or breaking your deal, then it's already a losing deal. 

This works well for me but one thing to note about this process is you absolutely need to know your local and state laws very well so that you don’t break any rules or run the risk of being accused of discrimination, because you will be turning people down and should have a legit, legal reason not just that you don’t like them.

I am an investor with properties in FL. and it's not going to break the bank.