Tennessee doesn’t have personal income tax but if we create an LLC we would have to pay state income tax.

And obviously, it rarely cash flows unless you can find property with an existing source of income that can be added to (a savvy strategy actually). 

I think it’s in “coming soon” phase.  

Foundation and roof work are very expensive.It sounds like a good house hack based on pricing and rents, but make sure you check crime and median income to justify rents.Exciting!

Definitely go with quality properties vs. quantity.If you buy the low income properties, you will attract low income people at tenants. 

This decision is too important to trust an online calculator; making a tax forecast is not rocket science on this but the gut punch because your basis is so low is understandable.    

I want to bid on a foreclosed property offered from an online auction but want to know what due diligence should be considered besides financial analysis.....

This is why I teach the mom-and-pop landlords in my skool community not to listen to what people say on the forms online.

It is the funding that I am lacking.I feel that I am in a stalemate and the only way to purchase my first rental property is to generate more income than I am right now to get to the point of being able to pay the downpayment.Thank you all for reading this post and I appreciate any responses and advice.

You should be very careful using contracts obtained from strangers online.