I have a long term tenant moving out of a property in January.

My partner and I buy and rehab properties, then refi and hold long term (BRRRR).  

Good luck

Hi @Alecia  really good advice.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Then the following year rent it long term for 10 years and sell it for no bonus depreciation recapture?

Most issues will pop up in the first few months as guests use the place regularly, so have a good relationship with a handyman and maybe throw him some small jobs so that he will be on standby when needed.

As long as the property is claimed as self-managed you should be good.

I think #1 is its good to be a little scared, until you have successfully completed your goal. 

Hi everyone - I was hoping to get some advice and a recommendation of a good RE attorney.So here is my situation - an HOA foreclosed on a house and I was the winning bidder at the sheriff sale.