Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC (you can elect to have a LLC taxed, as a S Corporation which is a whole other conversation).If you want to close in the name of a LLC, Mortgage Lenders will offer you Commercial Loan Terms (25-30% down, a 15-25 year amortization, and a ballon due in 5-7 years).

The units are all currently occupied right now, so we won't have to worry about the buyer's market right now haha.With the cash flow I will receive, it will be enough to take care of property taxes, insurance, and enough to save up for any emergiences with the unit that I will need to take care of, so no need to worry, I got you :)!

I'm starting out doing redeemable tax deeds and going to auctions where everybody has "bigger pockets" than I do.

@Stephen Fleming your cashflow probably won't be what you think it will be:(Have you factored in the new property taxes at homestead millage rates?

Hey @Nevin Wilkie. have you looked on the city or county's tax records to find the mailing address for the owner when it's different than the address of the property you want to buy?

That's $1,600 per month plus to pay debt, plus at least $400 in taxes and insurance.

And it can work really well for you as long as you pay attention to the statute requirements.In order to defer all tax you are selling investment real estate and buying investment real estate of at least the same value you sold. 

If you aren't familiar with Baltimore, I would suggest it's a hard no and say that you are trying too hard to make cash flow happen talking Baltimore and tax liens and auctions.

The data they pull from the tax records on how much a home last sold for, often not updated, or completely wrong.

u can see these homes on my website. also if there is any way to manage it.. if you can figure out how to get paid as a WA resident you will enjoy the same no income tax status you enjoy now..