This is way more challenging than what the gurus are saying, buy in the Midwest and flip or BRRRR and I'm relying on my team since I can't be there in person, maybe 2 to 3 times a year.I agree that a $10,000 profit (before paying ordinary income tax to the IRS) is way too small.

Need to understand your taxable income as well to know if it benefits holding them for depreciation.

Had previously been avoiding real estate investment because I wanted the simplicity of passive income gains from stocks.

Being 1099 and not having guaranteed income is challenging as is, I'm essentially dipping deep into my safety net to fund this project but the last couple of years have been great and I'm eager to get started.

I thought maybe she’d like the increased income and reduced liability as she approaches 90 years old but I see the tax issues might be too big an obstacle as she does seem pretty well off. 

Hey Latonya, accepting out of state vouchers can increase your tenant pool and potentially increase your rental income, but it also introduces complexities like verifying voucher validity with distant agencies, dealing with unfamiliar local resources for the tenant and navigating potentially different eviction procedures in another state.

With the realization that I could but and hold with some success in a military area, I decided that investing in real estate would be a good secondary source of income.

I would prefer to do the upgrades so that it gives the property a permanent higher monthly income and hence higher evaluation if I choose to sell. 

I'll probably be here for another year or two, but I'll keep the property when I do find my next step, and aim for Mid Term rental, to get the higher income. 

Based on what you're describing, I think your going-in criteria is definitely something that is strong *however* your goals may not match what current market reality is.When you say $3200/month payment - do you mean $3200/month before or after accounting for potential future rental income from your tenants in the other units?