It would actually be a net PROFIT given the huge increase to tax revenues. 

Theoretically, they split any profit.

If you buy it too low, in some jurisdictions they will call it "equity skimming" which is illegal.It can be very profitable, I've done many, but you really need to know what you are doing. 

Thus it's often more profitable to find long-term tenant than squeezing out every rental dollar you can. - RentReady repairs & vacancies between tenants can blow any projected ROIs.2) Warren Buffet - go where others aren't.

Is the time spent learning real estate and finding deals more profitable elsewhere?

Even now there already starting to call out for private and non-profit sector to, yet again, clean up and solve everything Big Gov botched, yet again. 

But again, your profit after selling costs (and any capex improvements) would have to be in excess of $60ok to really make sense.

While these deals were successful, I realized that the cost of using hard money significantly ate into my profits.

I do not want to sell because my profits after closing costs will be about $15K.

But to be successful and profitable, takes some distinct characteristics:1.