I am thinking more BRRRR strategy right now as that seems to be one of the best ways to break into real estate.

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. 

The median sale price increased month over month breaking the trend of decreasing median sale price the past two months.The rental market continued to moderate in Q3 2024 thanks in part to the increase in units being built. 1,815 units were completed in the year ending with Q3 2024 with 1,447 expected to be completed in the next four quarters.These new units brought online in the past year increased the overall inventory by 3.4%, however by Q3 2025 we anticipate demand to outpace supply by over 550 units.With this increase in units over the past year we have seen the occupancy rate moderate at 95.8%, down from the high of 98.9% in 2022.

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

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.

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

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.

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.

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.