Doing some preliminary scoping online for example...the following is straight off the MLS…2010 Todd St Greensboro NC3 beds / 1 bath asking price 65,000Taxes 785Seems like it could bring in 700 / monthThose familiar with this market...is this a horrible area, do homes rent out easily, is this somewhat typical? 

To play Devil's Advocate, I heard similar headlines about Phoenix in '05 and '06. 

This would be a buy-and-hold play for us. 

Can’t play the game without understanding the rules.

I know the margin might not be great, but we're willing to play the long game on this part of town. 

@Mike Stadel Did you research this at all online??

Now, saying all of this, I would only move forward if you plan to stay at that location for at least another 3-5 years as your primary residence... better to play it safe with a high investment then to lose it all once the economy flips again. 

So this decsion plays a little into both trying to build a portfolio, but also finally having a place in where I'm originally from and often visit.I know I'd likely not see any cashflow from a Westloop condo, but I'm curious if anyone has any recommendations to lower my risk for the area.

Oh, the joys of online communication!

On a 1099-R, Box 1 for "Gross distribution" is basically "income" on Line 15a of the 1040, right?