That being said highest and best does not necessarily mean the newest nicest stuff within.If it is in NEED of replacement in your eyes then pull the trigger just make sure you are in line with the area and your market rent supports. 

I have some decent off market deal flow and can keep my eye out for you. 

And in particular, some towns in RI have started to tax landlords (non-owner-occupants) at a higher rate, assuming 1) we're all rich and can afford it and 2) we probably don't live in the town anyway so neither we nor our tenants will probably be able to retaliate at the ballot box.So it's just something to keep an eye out for as you consider investing in a town, any town, whatever state it's in.

If you had lived in that home as your personal residence for 2 out of the past 5 years, then it is tax exempt (up to a certain limit), but since the home in question was a rental property only, it would be subject to LT cap gains.If you keep doing this, you keep paying the capital gains taxes, but I don't believe there is any magic thing that happens in the IRS' eyes if you keep doing this model. 

You post opened my eyes to really want to know the area on a personal level first.

And I say that because no one seems to bat an eye until it’s happening to them.

Hopefully stimulus money will help people catch up so there will be less trauma during difficult times.

For example, things like: how far behind (how much $) their tenant is behind on rent, likelihood the tenant would ever be able to catch up on their own (without assistance), whether the tenant is collectible should the landlord decide not to pursue assistance and go after a judgment in small claims court instead (some tenants are judgment-proof so the assistance may be a better option), ability of the landlord to weather the storm (do they have a lot of reserves or are they about to lose the property), willingness of the tenant to cooperate in the process (you need the tenant's cooperation for this to work), etc. 

It has been an eye opening transition and I could be any happier about the amount of value I have been able to create within myself and i would love to offer this value to anyone that is willing to give me a chance on my journey.

Just trying to hone my eye and numbers so that I can truly feel confident when I decide to actually go for that first investment property.