If I recall correctly, it creates a liability for the owner by muddying the legal water if an eviction were to become necessary if they violate other terms of the lease.

I appreciate your reply.

@Brandon Sturgill Thanks for your reply.

I believe this was changed under last year's tax "reform" bill, but may not have been a permanent change.If I remember correctly, you can take the CapEx as expenses or 50% or something like that.

If a property that is worth 5.3 million today at 6% cap approximately, can be bought at 5% interest rate; if the same property I could get at 4.3 millions in 2 years if the market falls, then interest rate possible at 6-7%, my cash on cash may be better but still not significantly better due to the higher interest rate, plus opportunity costs of sitting on capital for 2 years (1.3 million investment earning 1% bank interest instead of 7% COC if invested, loss of tax break depreciation, total loss may equal 200k loss in profit), plus increase in the rents and some value add could increase the cap from current 6 to 6.7 or so in 2 years.Unless, I find another source that can give me a COC of 7%, sitting on cash for 1.5-2 yrs for market to correct may itself be a loss.

@Jason Hirko, Thank you very much for your reply, this is super helpful!

So, if you are coming from out of town and would be interested in meeting up one evening, please reply here.And if you are a local to Miami and want to help coordinate this, please let me know!

I hope this helps.Tag me if I didn't explain correctly or if you have questions.

Goals: -stable cash flow, not as concerned about appreciation (check, assuming description is correct in saying they've had stable tenants. rental price should increase in the next couple years so i have some assurance there)-looking for min $100/unit (check)-C+ neighborhood (check, borders some B/A neighborhoods in upper Ohio City so hoping some absorption goes that way)Other things: -20% CoC return (almost check - Changing purchase price to $53,000 and have tenants also pay water/sewage would bump this deal right up to my criteria of 20% CoC.) 

Overall I would have a profit, correct?