Quote from @Michael Goddard: I know the area and have already looked at this property.

I don't currently have any investment properties, but will likely work with a turn-key property managment in the Memphis/Little Rock area.My goal is to build a good cash-flow portfolio to ease into retirement. 

Quote from @Helena Wheeler: I'm in MS looking to buy and hold properties.

Instead, it could impact your cost basis in the property, which would affect depreciation and future tax calculations.

Why are you communicating with the tenants if you have a property manager?

Its not like a 30k roof will improve my property by 30k right?

I recommend starting by contacting the county’s property tax office to determine if they are open to discussing or reviewing an appeal for property taxes.

Every property/venture we add to the portfolio forces me to reinvent the systems we use.  

So if I do a good analysis of the property (including all the costs) and the property generates monthly CF with a DSCR above 1.1, I would be removing a big risk because the numbers add up.

It’s about a 2400 square-foot property.