I can at least take a look and see if there is a creative way to play this.Regardless, I'd start renting the property immediately (assuming it's rentable), and starting bring in some income until the foreclosure.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

.' - Investing in multifamily properties can be passive with property management services or investing in syndications.Don't let excuses hinder your potential for financial growth and passive income streams. 📈 #RealEstateInvesting #MultifamilyInvesting #FinancialFreedom"

Several reasons:  Phoenix is an expensive and hyper-competitive market; your monthly income is $4K which in and of itself is limiting, but even more so with most of that being cash; and your credit score, while not terrible, needs to be raised, especially with you being self employed and a mostly cash income.

My recommendation is to choose cities in safe and economically diversified areas with above-average income and population growth.

My goal from day 1 has always been passive income as much as possible. 

Can I claim the deduction of $80,000 * 0.60 = $42,000 against my w2 income in the first year? 

Essentially once the panels are paid, you are looking at another source of income due to the fact that you are now essentially the power company for your own house.

@Michael Lipari I recommend renting it out for a period of time, taking some rental income, then selling off market and you may be able to convince the IRS that it was an investment property.

Hi All, I've worked for a non-profit my entire professional career (ie, my W2 income is not very high).