Jumping into investing w/o an income can be tricky - it will be hard to borrow money - and may put a bit of a head wind on your efforts.

I'm somewhat transient at the moment, however, as I might be heading back to business school in the next two years.

Cut to interviews with police chief, code compliance head and welfare dept, etc.

I read your post & my head is hurting but I'll give it a whirl...your remodeling costs is part of the rehab before you rent it out so ALL of what you do on the rehab is added to the cost basis.ie, it's worth $100k now and you put $40k into it. you depreciate it as $140k when you put the home into "service" as a rental.I am no accountant so sure there are some others who may know better than me but that's my take.

I'm glad you're realizing that you need to think about what you were doing wrong and improve, but simply heading for Jacksonville isn't the magic bullet - if you can't find good deals and buyers on your home turf, what makes you think you can find them elsewhere?

Its true it can be a head ache but I find always stepping back and learning from bad situations, being open to taking the advice from others and always having an open mind with learning new things only get easier.I am a person that sees a solution or has a goal and I get hyper focus and don't like to waste time.

With a big city property, you're leveraging like crazy, and getting twice the rent prices, but in a small town, you're almost paid in full and getting smaller rents.I'm trying to wrap my head around the pros and cons of the two, and looking for professional advice.

Frankly, I can or could help many of these borrowers, but I can't as I am not in compliance with the law and I'm not heading to court over the matter. :)

My business partner and company CFO owns two of his own CPA businesses in Hilton Head, SC.

Good heads up @Aaron Mazzrillo One of our NY attorney acquaintances implied that LB Paint litigation is going to be 'BIG, very BIG' !!!