If you don't look like a long-term investor to the IRS, there is a chance that they could label you a "developer/flipper" and treat your property as inventory rather than as a depreciable capital asset. 

I've been looking at comparable properties nearby and the median is in the low 2k range I'm thinking mine may go a little higher since it's a corner property with a lot of light but really looking to see if the conversion would make sense financially because I've been reading those articles about the costs being exorbitant. 

I want to grow a rental portfolio that can take me down a path of purpose and my family to a place of financial freedom. 

The insurance company is Country Financial.

Seek professional guidance from experienced agents, property managers, or investors to identify hidden gems, negotiate favorable deals, and navigate the complexities of the real estate market more effectively.By employing these strategies and conducting thorough due diligence, you can increase your chances of finding cash-flowing properties that align with your investment goals and financial objectives.

Once I decided I needed to change accountants, I interviewed John and we discussed my entire financial situation. 

I don't feel bad about annoying a handful of people with unwanted phone calls in order to help my city, my neighbors, the property owners, and myself economically and financially. 

If this is your first rental property - I'd also recommend an agent that can ensure you are looking at the right kind of home, area, and type to ensure it meets your financial objectives and provides you with a return.I've been an investor in Charlotte for over 10 years and also host a meetup called "SouthEast Charlotte Real Estate Investors/FI" - find us on FB.

Transitioning into real estate investing can be a lucrative venture, but it's essential to weigh your options and consider your financial goals and risk tolerance carefully.

Quote from @Rigel Cagbabanua: L@Paul De Luca I’m thinking of saving up to down 20% probably and I would also like to have it rented by tenants in the future I don't know your financial situation and it depends on the purchase price, but for a lot of people it can take years to save up for 20% down.