@Mario CastellanosBIG assumption but if accurate it means the property is under water meaning they owe more money on the property than it is worthThey would not be able to sell it without lender permission essentially.

We run into a lot more break ins in our Cleveland properties than we do with our Lorain properties.

They essentially give you all properties in an area, and you can skip trace and call the homeowners.

Here’s my thinking so far: the property’s been on the market for over a year, and I know they had an offer for $500K.

Yes, you can ultimately own a property with little/nothing out of pocket when you're done - but when you reposition with today's rates even moderately leveraged stabilized assets can be hard to find cashflow with debt service and a realistic operating expense load.

Analyze the property's income potential and expenses and see how it shakes out while you live there and when you eventually move out. 

Should I sell off a rental property or two and pay for new construction in cash?

I went from 2 paid off properties to 18 rentals in 5 years by using equity in those two properties to buy a bunch more.

I’m curious if you have purchased any properties and what your experience has been.

While attempting to rent out a newly purchased five bedroom property, my property manager was approached by a Sober Living company looking to rent out our property.