.$100k can potentially be deducted as replacement debt. 

Hi @Matthew Mclean, feel free to reach out via email to any of the real estate-savvy CPAs here on BiggerPockets.

The owners reached out to me from a direct mail campaign.

BiggerPockets and Facebook groups can also be great for networking.Feel free to reach out if you’d like help connecting with agents or investors in Illinois or Wisconsin (Have some amazing referral partners)—I’d be happy to lend a hand or share resources to get you started.

@Curtis Cutler Avoid cashing out your 401(k)/457 to minimize taxes and penalties, potentially up to 40%.

We fully renovated both units, improving the property’s value and rental potential.

It is cheaper then FHA mortgage insurance, and you can potentially drop it in the future without refinancing unlike FHA. 

Find out if there are any judgments or liens on the property.WALK-THROUGH AND/OR GET PICTURES: If you are looking at a potential deal, you need to have pictures or walk-through the property.

So someone who is looking purely to maximize potential return (and has unlimited time) is unlikely to find this a good fit.

My recommendation would be to choose potential markets - in several price points - that have strong rental demand and year-over-year rent increases and that also are in markets that are appreciating.