One concern is we found a new tenant in 2023 and gave him a 4 month break on the rent because he invested massive amounts into the renovation.

Given our tax bracket, including tax savings when analyzing various real estate deals is critical in determining our ROI.

With a 10% PM fee, there is a possibility of some small cash flow, or maybe break-even. 

You definitely want to do it to stand out but you don't have to break the bank.  

My leases clearly state that the "Tenant shall maintain all appliances, equipment, furniture, furnishings and other personal property included under this Lease". 

. * [6-24 months] Whenever I find a job and qualify for a FHA multifamily, get that property (with break-even cashflow most likely), and rent the condo at a cashflow loss for a couple years until rent increases (due to high-interest on underlying debt)* [Almost immediately afterwards] At this point, do a cash-out refinance on the condo to pay back the SBLOC (unsure if this is possible immediately after getting the multifamily loan), and secure a lower rate for the condo itself.I know this strategy sounds like loser, as it bleeds money all around, but my hypothesis is:* Underlying assets should grow more than 8.15% in a given year, and I would not pay short/long-term taxes on stock.

Hey Eilon - you should be able to go up to about $800k or so on purchase price including any rehab if you go that route.

The Greenville market is strong - high population and job growth - diverse economic base including manufacturing, logistics and transportation, medical and leisure & hospitality.

You may never need it, but it's totally worth it when you do, so for us, worth including in our initial expenses. 

That addendum also has provisions that allow the seller to do additional marketing on their own including their own yard sign, so I'm not sure what the fuss was about there - though I can tell you if you put a FSBO sign in your front yard agents driving by will blow your phone up trying to get a listing appointment with you and that's a whole other conversation.