What is the best approach to maximize future cash flow while minimizing income taxes.Where Is the Best Place to Invest?

@Benjamin Cohen I would look for experienced investors to minimize the risks associated with investing.

We have also secured a real estate agent who will only take 4% commission and who will guide us through the process.Obviously our plan is very elementary in nature as we have analyzed a minimal amount of deals and are not entirely confident in our abilities to determine the ideal purchase. 

I know Regina's crime is fairly high regardless of area just trying to minimize tenant turn over as I do live out of town 

Most importantly, it conserves your cash and minimizes your risk. 

Don't waste a time chasing people with no money.

Again, I hope you get the money, but at least they did the absolute minimal in the given situation.  

Minimal rehab What was the outcome?

Have you considered shopping for an existing home instead, so you don't waste more time with these jokers?

It's a waste of time.B) If you are attempting to jack up the rent you are going to be in a precarious position to claim damages.