Your paying for expertise, guidance and with the right person you will potentially save thousands in other ways. 

Looking at potentially doing student rental out there.

Do not defer repairs if a potentially dangerous situation arises.3.

Good location, appreciation not guaranteed for the next several years.  895k asking price. 101k gross annual incomeExpenses: Insurance: $4,898Electric: 2,579Water/Sewer 5,085Fire Alarm Connection 708Property Taxes (if/when assessment is adjusted to sale price)-31,95130 Yr mortgage (20% down at 7.75%) 61,560Maintenance, Long-Term Capx, vacancy- 9,000 (this is probably a bit low)Total annual expenses: $115,781

From the real estate you are going to be getting Passive Activity Losses (PALs) which is depreciation to offset passive income, potentially reducing your overall tax liability.

Thanks Can potentially help - do you have further details on the property? 

You might also meet someone that could be a potential business partner.

@Francis Faucher and @Matthew Gentile Thank you both.As I continue to research the syndicate or JV models where I do not have to be involved the day to day operations and decisions seem most aligned.Matthew, appreciate the potential referral for accountants.

Whether it's renovating older properties, converting unused spaces into rental units, or adding amenities like laundry facilities or parking spaces, there are numerous ways to increase the income potential of a property.

Also, how many mortgages exist in Arkansas on small vacant land tax assessed for a low amount as this property?