Hi Everyone,I purchased a tax lien on a property and found out today that the name on the tax assessor's website is the name of a person who bought a tax certificate in 2020.

But you also have to pay for taxes, insurance, and maintenance (generally 10% of the monthly rent).

If the alternative is wait 5 years for a down payment on something you don’t live in, you stand to likely gain substantially by moving on this decision now and collecting rent, principal pay down, appreciation, and tax benefits in those 5 years.  

The loan we were applying for is an FHA, which stipulates we must provide a signed lease for our half of the duplex (to be newly rented out) but for the other half which the parents "own" (in reality all three are equally owners of the entire property.) we would need to provide proof of rental income on our tax return, however her parents claimed that so we seem to be SOL.The mortgage is covered, we can rent it out no problem, but the underwriter is saying on paper it looks like she is responsible for the whole duplex and the rent for half of it is unreportable.

If you just want to add real estate to your portfolio and the benefits like cash flow, appreciation, and tax benefits, you might be better off investing passively.

But my taxes, CDD, and HOA total are about $6000/year.

That having been said, I want to avoid any rookie mistakes.

My income is such that I have a significant tax burden when I bring in investment income.

This is stated in the tax code under Section 168(k)(8) which outlines the bonus depreciation phase-down rules for property acquired before 9/27/17.

Given the potential for high returns, customizable involvement levels, and significant tax benefits, I believe this is a great investment opportunity, particularly in markets experiencing rapid growth.I've been keeping an eye on developments in Georgia, where builders are struggling to meet the surging demand driven by population increases in certain areas.