Their is definitely a lot of activity with owner occupants purchasing.

I have an RE agent license even though I don’t work actively as an agent, hence I know what overall prices are in the neighborhood.

If you and your wife file a joint return then from the federal perspective you and she (or rather the tax return that reports the activity of the properties - all of them both from during your marriage and before your marriage) are one and the same tax payer.

I think there is a similar service for home sales, but not sure.Still with your lack of experience, you really should consult a realtor or just visit open houses on the weekend. 

We are from out of state, so our agent will need to be actively involved in our due diligence process.  

If you take SD, you dont itemize, but the expense related to rental activity has nothing to do with itemize deduction.Your rental income is taxed if you have net rental income. ( Rents- expenses- depreciation). 

Sadly, two shootings (one killed) this past weekend in what I highlighted as the "good area" in the South Shore above.

I am heading out to Atlanta this weekend so I am looking to meet a fantastic agent to list this property in the Decatur area so I am looking for someone with strong design and marketing sense.

@Barbara Hlavaty I think first of all, you have to figure out for yourself whether you want to be active with this next investment or passive?!

For example, while you could use such accounts to purchase real estate, you could not transfer any real estate that is owned by yourself, spouse, parents, children into the tax-advantaged account.There are also some instances in which such accounts can be taxed, such as when investing in an active business or when using leverage.For a list of companies compiled by BiggerPockets, see: Self-Directed CompaniesFor more compliance and strategy, see: The Self-Directed Investor