@Luke Carl Renting at 750/unit it is likely a C+ in an inexpensive area or a dump in a big city.

It's one of those things as the property gets bigger the cost can be more of a baked in expense for the cost/benefit.Some gas stations can get 100% bonus depreciation followed by car washes where not 100% but a lot of it year 1 can be depreciated.Tax accountants often can do basic calculations for cost seg but if you do plumbing and electrical in walls and all of that really need an engineer for those services.

There are more inexpensive micro markets as well as much higher priced, appreciating markets within the city limits.

Louis might have 2-4 units that are inexpensive enough to make this possible.You can own one other property with this loan, so you can keep your current house and move into the new property.

I have seen several people buy entirely cash that are cheap but most of the homes in the areas I invest aren’t that inexpensive and I don't have enough funds to buy a home entirely cash. 

Feels like I’m living in expensive socialism, can’t explain it, maybe i shouldn’t have lived in a grey colored apartment...

I've been casually looking at lake homes and came across what appears to be a relatively inexpensive property in Hammond, NY on Black Lake.

(minus about $50k in expenses) the new NOI will then be about= $310,000 before debt service.

Or get a larger, newer maybe SFH home in an inexpensive "less desirable" location?

There's lots of places with inexpensive properties.