One could argue an "appreciation play"... where you buy it because it will be worth more in a year or two... but with the markets in decline right now because of the Fed rate hikes, that is unlikely today - but made a lot of sense a few years ago.So run your numbers, and see what they tell you.  

So if you can find local properties that cash-flow, you will come out way ahead versus having to go the PM route.I can tell you right now that with the Fed rate hikes, there is little that is cash flowing if you are financing your deals.  

I also think we live in a society where billionaires pay on average 21% in total tax - fed, state, local.

Hopefully they help, you may be forced to pay it down to a decent rate at this point though - I think everyone's anticipating an increase from the fed.

A house with high grass that needs maintenance is more often than not a lazy homeowner- not a motivated seller .people don’t have much pride in homeownership these days so it’s pretty common to see but it won’t translate into Money for you .  

Are there lots of trails in the grass yards near intersections when you look at arial photography?

However, with recent (multiple) rate hikes by the fed to tame inflation, 2023 is the year markets will "normalize" with buyers/sellers staying put on the sidelines and homes stay on market for a longer period of time - shifting to a buyer's market.

We would probably pay someone to mow the grass. 

The rates continue to rise as the Fed increases the cost for rates.

@Dan Hedges if your property is not in an LLC but held in your name Pen Fed will do an 80% LTV Heloc on a rental property if you have 3 properties or less including a primary.