So similar to the turnover costs, it depends where you take the expense but if taking it in vacancy then that would result in increased vacancy cost, but reduced PM costs. 

It sounds like the numbers work as it cashflows if you don't live in it and you are reducing your current rental expenses.

The seller originally listed for $795k but has reduced 4 times in past 90 days to $685k.

I know the clawbacks are possible but try and reduce the risk with good tenant screening. 

Best way to get equity and gain experience is to buy an owner occupied multi where you can leverage your money, reduce expenses, and build equity. 

FHA bumped credit requirements to 660 post COVID and increase their DTI ratios also - save more money and reduce debt.

We appreciate your patience and understanding with what we can and cannot do.We also hope you appreciate our proactive communication efforts to keep you updated.At the bottom of this message is a list of Executive Orders issued by Michigan Governor Whitmer that have affect our ability to conduct business as usual.On May 15, Executive Order 2020-85 was issued extending the suspension of evictions until June 12.

The taxes seem like they need to be reduced for sure.

You shouldn't make an investment for tax breaks only - spending $1 to save $0.30 isn't advisable but if that's the goal for you, you should take proactive steps to ensure you will be achieving that goal with your investment.

They get a slightly reduced rent.