Is it really that complicated? 

@Tom Patel , These are never fun and also complicated from a tax perspective. 

You still get the benefit of their experience and I think it would be a less complicated arrangement.

If you don't know the answer study the market until you do.As for going out of state I don't recommend if you live close enough to any area of similar pricing I'd recommend you just invest there where you have more knowledge & experience.If you do go out of state It's not really that complicated to buy out of state.

You can then offset a passive loss. ( I know it is a complicated topic, please talk to qualified professional) 

Hello,I have a house that was flooded in Harvey (Aug. 2017) for the first time (to my knowledge as I bought it from a wholesaler with no disclosure) .The house is one story with three bedrooms (one of them is a master suite) with a very reasonable living space and backyard.I rehabbed the house and it looks great now, ....nobody would buy it :0(The house is near the medical center in Houston (in a subdivision called parkwest near Westbury) If I rent it it will create a -ve cash flow of about $300I'm thinking to turn it into Senior independent living but it seems to be very complicated strategy with the best yield.Any experience in doing this in Houston would e appreciated?

Hi @Sammie Reynoso Welcome to the site!

You will find a wealth of information regarding real estate investing on this site.

So if FTW is top pick of 4 sites, what are the odds it will come?

this being pro landlord site you pretty much know what folks are going to recommend.. and of course you have your own debts.Its a tough one..